PR. COMMISSIONER OF INCOME TAX (CENTRAL)-2 vs. GANESH CHAND GUPTA

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ITA - 238 / 2023HC Delhi24 April 20232 pages
For Petitioner: SANJAY KUMAR
AI SummaryAllowed

What did the High Court hold?

The Delhi High Court has admitted the appeal filed by the Revenue and issued notice to the assessee. The court has condoned the delay in re-filing the appeal by the Revenue.

What were the facts?

The Assessing Officer made an upward adjustment regarding a sum received by the assessee against a Keyman Insurance Policy, citing Section 143(1)(a)(vi) and Section 10(10D) of the Income Tax Act. The CIT(A) rejected the assessee's appeal, but the Tribunal reversed this decision.

What were the issues?

The primary issue concerns the taxability of amounts received under a Keyman Insurance Policy and the AO's power to make adjustments based on Form 26AS.

Which sections of the Income-tax Act were involved?

Section 143(1)(a)(vi),Section 10(10D)

AI-generated summary — verify with the full judgment below

$~31 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 238/2023 & CM APPL. 20014/2023

PR. COMMISSIONER OF INCOME TAX (CENTRAL)-2

..... Appellant Through: Mr Sanjay Kumar, Sr. Standing Counsel with Ms Hemlata Rawat & Ms Easha Kadian, Advocates.

versus

GANESH CHAND GUPTA

..... Respondent

Through:

CORAM:

HON'BLE MR JUSTICE RAJIV SHAKDHER

HON'BLE MS JUSTICE TARA VITASTA GANJU

O R D E R %

24.04.2023 [Physical Hearing/Hybrid Hearing (as per request)] CM APPL. 20014/2023 [Application filed on behalf of the appellant seeking condonation of delay of 45 days in re-filing the appeal] 1. This is an application moved on behalf of the appellant/revenue seeking condonation of delay in re-filing the appeal. 1.1 According to the appellant/revenue, there is a delay of 45 days. 2. For the reasons given in the application, the delay in re-filing the appeal is condoned. 3. The application is disposed of, in the aforesaid terms. ITA 238/2023 4. This appeal concerns Assessment Year 2017-18. ITA 238/2023

Page 1 of 2 This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 27/03/2026 at 13:13:28

5.

The appeal seeks to assail the order dated 03.08.2022 passed by the Income Tax Appellate Tribunal [in short, “Tribunal”]. 6. The record shows that the Assessing Officer (AO) has made adjustment, apparently, in exercise of powers under Section 143(1)(a)(vi) of the Income Tax Act, 1961 [in short „the Act‟] having regard to the figures shown in Form 26AS. 6.1 It appears that the upward adjustment has been made with regard to the sum received by the respondent/assessee against Keyman Insurance Policy. In this regard, our attention has been drawn to the provisions of Section 10(10D) of the Act. 7. The appeal preferred by the respondent/assessee with the Commissioner of Income Tax (Appeals) [In short, “CIT(A)”] was rejected via order dated 11.11.2019. It is this order that the Tribunal has reversed. 8. Issue notice to the respondent/assessee via all modes including email. 9. List the matter on 31.10.2023.

RAJIV SHAKDHER, J

TARA VITASTA GANJU, J

APRIL 24, 2023 / ha

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ITA 238/2023

Page 2 of 2

This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 27/03/2026 at 13:13:28

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