2026 (3) TMI 65

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.... PER M. BALAGANESH, A. M.: 1. The appeal in ITA No.4947/Del/2025 for AY 2017-18, arises out of the order of the National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as 'ld. CIT(A)', in short] dated 17/06/2025 against the order of assessment passed u/s 147 r.w.s. 144B of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') dated 29.03.2022 by the Assessing Officer, N....

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....ich came to light from TDS return filed by the dealer in Form 26EQ amounting to Rs. 12,87,728/- and assessee had made payment towards credit card amounting to Rs. 21,62,871/- which got reflected in specified financial transaction by the credit card agencies. Based on this information, a letter was issued to the assessee on 17.03.2021 by the ld AO seeking explanation for nature and source of income....

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....mption / deduction of (i) HRA of Rs. 4,08,000/- ; (ii) house property loss of Rs. 1,55,185/- and (iii) other exemption of Rs. 1,99,079/- during the year under consideration. The ld AO noted that no supporting evidences were submitted by the assessee for claim of exemption on account of HRA of Rs. 4,08,000/-, claim of house property loss of Rs. 1,55,185/- and other exemption of Rs. 1,99,079/- and p....

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....ld be duly entitled for exemption of Rs. 1,99,079/- and there cannot be any addition to this effect as it is duly reflected in Form 16 issued by the employer itself. 5. The assessee has claimed exemption of Rs. 4,08,000/- on account of HRA which is also duly reflected in Form 16 and hence, the exemption is duly allowable to the assessee and there cannot any addition on this account. 6. We di....