2026 (1) TMI 1307

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....gar Yadav (Assessee in person) along with Shri P. K. Kapoor, C.A. & Shri Shailendra Mishra, Advocate (Providing pro bona services to the appellant) ORDER PER KUL BHARAT, VICE PRESIDENT.: This appeal, by the Revenue, is directed against the order of the Learned Commissioner of Income tax (Appeals)/National Faceless Appeal Centre (NFAC), Delhi dated 19.04.2024, pertaining to the assessment ....

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....evenue. The delay in filing of appeal is condoned and appeal is admitted for hearing on merits. 3. At the outset, the Ld. Counsel for the assessee submitted that in the quantum appeal, the Tribunal (ITAT 'A' Bench Lucknow) vide its order dated 16.10.2025 has deleted the addition. Consequently, the penalty does not survive. He has also placed on record a copy of the said order of the Tribunal pa....

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....sessee had entered into an agreement with the SBI to act as its Correspondent/Bank Mitra. As per the terms of the agreement, the assessee was authorized to collect the cash and make payment to the customers of the SBI. The assessee throughout has been stating that the cash in question pertained to the concerned branch of SBI and such Act of the assessee was duly supported by the relevant terms of ....

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....question for non-deposit of amount in concerned account holder's account which may answer your query". However, the Assessing Officer did not appreciate the explanation offered by the assessee in the right perspective and drew an adverse inference by treating the amount as the income of the assessee in terms of Section 69A of the Act. Such an action by the Assessing Authority, without making any f....