What did the Tribunal hold?

The Tribunal found merit in the assessee's contention and followed a coordinate bench's decision on an identical issue. The revenue's appeal was dismissed.

The revenue appealed against the deletion of a protective addition made by the AO for undisclosed interest income. The assessee contended that the issue was already decided in their favour by the Tribunal for a previous assessment year.

What were the issues?

Whether the CIT(A) erred in deleting the protective addition made by the AO on account of undisclosed interest income.

ACIT vs Anurag Dalmia, New Delhi | ITAT Delhi 2022

Income Tax Appellate Tribunal, DELHI BENCH ‘A’, NEW DELHI

Before: SH. N. K. BILLAIYA & MS. ASTHA CHANDRA

Hearing: 29/08/2022Pronounced: 29/08/2022

ORDER PER N.K. BILLAIYA, AM:

This appeal by the revenue is preferred against the order of the CIT(A)-29, New Delhi dated 08.01.2019 for A.Y.2016-17.

The solitary grievance of the revenue is that the CIT(A) erred in deleting the protective addition of Rs.20956660/-made by the AO on account of undisclosed interest income.

At the very outset the counsel for the assessee stated that the impugned issue has been decided by this Tribunal in favour of the assessee and against the revenue in A.Y.2014-15.

The DR fairly conceded to this and could not bring any distinguishing decision in favour of the revenue.

We have carefully perused the orders of the authorities below. We find force in the contention of the Counsel. An identical issue was considered by this Tribunal in order dated 22.10.2020. The relevant findings read as under :-

Respectfully following the decision of the coordinate Bench this appeal by the revenue is dismissed.

Decision announced in the open court on 29.08.2022.

ACIT, CENTRAL CIRCLE-26, NEW DELHI vs. ANURAG DALMIA, NEW DELHI

What did the Tribunal hold?

What were the facts?

What were the issues?

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