2026 (4) TMI 253

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....see Represented : Shri Hemanshu Shah, CA For the Revenue Represented : Shri Alpesh Parmar, CIT (DR) ORDER PER DR. B.R.R. KUMAR, VICE-PRESIDENT : This appeal has been filed by the Revenue against the order of the Ld. Commissioner of Income-tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi (hereinafter referred to as "CIT(A)" for short) dated 07.11.2025, passed under Section 2....

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....crores. The assessee contended that no exempt income was earned during the year and that own funds i.e. Rs. 910.74 crores, exceeded investments. 4. Aggrieved by the order of the Assessing Officer, the assessee filed appeal before the Ld. CIT(A). The Ld. CIT(A), following various decisions of the Hon'ble Gujarat High Court, including in the case UTI Bank Ltd. (32 taxmann.com 370)(Guj.), CIT Vs. ....