I have no experience with Dynamics, however I wanted to share how I've done this with Marketo and Salesforce in hopes you can mimic in Dynamics.
In Salesforce, we created sharing rules to only give the Marketo profile user in SF visibility to specific records.We created a checkbox field called "Do NOT Sync to Marketo". In the sharing rules logic, any record with this box checked, is not visible to Marketo.
In Marketo, I have triggered Smart Campaigns looking for specific criteria that would make a lead invalid. The Smart Campaign logic goes something like this:
If X, Y, or Z, then
"Change Data Value" of the field 'Do Not Sync to Marketo' to "true"
Wait 10 minutes
Delete from Marketo / Do not delete from CRM
Once the record is deleted from Marketo, it cannot sync back into the database because the record falls outside of Marketo's visibility in Salesforce.
Like I said, I've never logged in to Dynamics but I'm hoping this will work.