PR. COMMISSIONER OF INCOME TAX -7, DELHI vs PUNJAB AND SIND BANK

Judgment text excerpt

$~81 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision : 24.04.2025 + ITA 111/2025 PR. COMMISSIONER OF INCOME TAX -7, DELHI .....Appellant Through: Mr Puneet Rai, SSC, Mr Ashvini Kumar and Mr Rishabh Nangia, SCs and Mr Nikhil Jain, Advocate. versus PUNJAB AND SIND BANK .....Respondent Through: Mr Salil Kapoor, Mr Sumit Lalchandani and Ms Ananya Kapoor, Advocates. CORAM: HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MR. JUSTICE TEJAS KARIA VIBHU BAKHRU, J. (ORAL) CM APPL. 23798/2025 (condonation of delay in refiling) 1. For the reasons stated in the application, the delay of 152 days in re- filing the above captioned appeal is condoned. 2. The application stands disposed of. CM APPL. 23797/2025 (condonation of delay in filing) 3. For the reasons stated in the application, the delay of 115 days in filing the above captioned appeal is condoned. Signature Not Verified Digitally Signed ITA 111/2025 Page 1 of 6 By:TARUN RANA Signing Date:01.05.2025 15:00:16 4. The application stands disposed of. CM APPL. 23796/2025 (Exemption) 5. Exemption is allowed, subject to all just exceptions. 6. The application stands disposed of. ITA 111/2025 7. The Revenue has filed the present appeal under Section 260A of the Income Tax Act, 1961 [the Act] impugning an order dated 07.02.2024 [impugned order] passed by the learned Income Tax Appellate Tribunal [ITAT] in ITA No.8688/Del/2019 in respect of the Assessment Year [AY] 2016-17. 8. The aforementioned appeal [ITA No.8688/Del/2019] was preferred by the Revenue against the order passed by the Commissioner of Income Tax (Appeals)-7, New Delhi [CIT(A)], in an appeal preferred by the Assessee against the assessment order dated 16.12.2018 passed by the Assessing Officer [AO]. 9. Essentially, the controversy relates to the additions made by th