2025 (2) TMI 1827

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....l, CA For the Revenue : Shri Rajesh Kumar Dhanestha, Sr. DR ORDER PER M. BALAGANESH, A. M.: 1. The appeal in ITA No. 4101/Del/2024 for AY 2017-18, arises out of the order of the National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as 'ld. NFAC', in short] in Appeal No. ITBA/NFAC/S/250/2024-25/1066787439(1) dated 18.07.2024 against the order of assessment passed u/s 14....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... assessment. The assessee preferred an appeal before the Learned CITA, who upheld the action of the Learned AO. 4. Before us, the assessee made a plea that disallowance in any case cannot exceed the exempt income. This issue is no longer res integra in view of the decision of Hon'ble Supreme Court in the case of Maxopp Investments reported in 402 ITR 640 (SC), wherein it had been categorically ....