2026 (1) TMI 1308

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....cate For the Department : Sh. Shailendra Srivastava, Sr. DR ORDER PER : S. RIFAUR RAHMAN, ACCOUNTANT MEMBER: The assessee has filed this appeal against the order of the learned Commissioner of Income-tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi dated 22.07.2025 for the Assessment Year 2014-15. 2. At the time of hearing, learned AR of the assessee submitted that in th....

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....itted that there are several decisions of coordinate benches, wherein it has been held that no penalty can be levied towards disallowance of expenses u/s. 40(a)(ia) of the Act. (C) Addition of Rs. 10,54,363/- of sundry creditors/debtors. In this regard, he submitted that the addition was made u/s. 41(1) and not u/s. 68 of the Act to invoke the provisions of section 271(1)(c) of the Act to impose p....