ORDER

PER VIMAL KUMAR, JUDICIAL MEMBER

The appeal ITA No. 2110/Del/2025 filed by the Department of Revenue and Cross Objection No. 224/Del/2025 filed by the Assessee are against the order dated 15.01.2025 of the Ld. Commissioner of Income Tax Appeal, Delhi – 31 {hereinafter referred as Ld. CIT (A)} u/s 250 of the Income Tax Act 1961 (hereinafter referred as the Act) arising out of Assessment Order dated 31.12.2019 of the Ld. Assessing Officer, Ward 10(1), New Delhi (hereinafter referred as Ld. A.O.) u/s 147 read with Section 143(3) of the Act and WTA No. 01/Del/2025 filed by the revenue is against the order dated 23.01.2025 of Ld. Commissioner of Income Tax (Appeals) arising out of Assessment order dated 27.03.2015 of the Ld. AO u/s 16(3) of Wealth Tax Act, 1957 for Assessment Year 2012-13.

2. Appeals of revenue and Cross Objection of the assessee involve same facts and similar grounds and issue so they were heard together.

3. Brief facts of the case are that assessee filed return of income on 31.07.2012 declaring total income of Rs. 23,23,780/- which was processed u/s 143 (1) of the Act. After obtaining approval of Principal Commissioner of Income Tax Delhi for the reasons recorded th