2026 (2) TMI 1367

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....For the Assessee : Shri Nishit Gandhi & Ms. Adnya Bhandari, ARs For the Revenue : Shri Prathmesh Lawand, Sr. DR ORDER PER SMT. BEENA PILLAI, JM: Present appeal arises out of order dated 10/11/2025, passed by NFAC, Delhi [hereinafter "the Ld.CIT(A)"] for AY, 2022-23. 2. It is observed that the assessment as well as the first appellate proceedings were completed ex parte due to repeat....

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....tion and wastage of judicial time, we deem it fit to impose a cost of Rs.10,000/-. The said amount shall be paid by the assessee to the State Legal Services Authority within a period of four weeks from the date of receipt of this order, and proof of such payment shall be furnished before the Ld. AO. Failure to comply with this direction may entail adverse inference in the set-aside proceedings. Th....

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....e have come to a standstill. It was requested that at least one bank account may be released to enable the assessee to carry on its day-to-day business functions. 3.2. The Ld. DR fairly submitted that the issue may be restored for fresh adjudication. However, he objected for bank accounts to be released, since the penalty levied is u/s 270A, and entire liability will not get nullified. He thus ....