ACIT, Central Circle-26, New Delhi Vs Anurag Dalmia, New Delhi


Quick Summary
The Assistant Commissioner of Income Tax appealed against an order by the CIT(A) which deleted an addition of over £1.7 million. This addition represented undisclosed interest income earned on foreign bank account deposits for the assessment year 2014-15. The Assessing Officer had added this income under Section 69 of the Income Tax Act. However, the CIT(A) deleted the addition, following previous decisions for earlier assessment years.

Court :
ITAT New Delhi

Brief :
This is an appeal filed by THE ASSISTANT COMMISSIONER OF INCOME TAX, Central Circle – 26, New Delhi against the order of the ld CIT(A)-29, New Delhi dated 25.08.2017 for the AY 2014-15 wherein addition made by the learned assessing officer of Rs 1 78,28,485/– being income on account of undisclosed interest income earned on undisclosed foreign bank account deposits u/s 69 of The Income Tax Act made by the learned assessing officer as per order u/s 143 (3) of The Income Tax Act dated 31 August 2016 was deleted. Thus the revenue is aggrieved.

Citation :
ITA No. 6542/Del/2017

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1999
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3499
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