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Judgment
This assessee’s appeal for assessment year 2020-21, arises against the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre, [in short, the “Ld. CIT(A)/NFAC”], Delhi’s order dated 10/12/2025 having DIN & Order No. ITBA/NFAC/S/250/2025-26/1083527997(1) involving proceedings under section 147 r.w.s. 144 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
Heard both the parties. Case file perused.
Coming to the asssessee’s sole substantive ground raised herein, it transpires during the course of hearing, that he is aggrieved against both the learned lower authorities’ respective assessments and lower appellate findings treating the interest income of Rs. 78,527/- not as income from “other” sources but an accommodation entry followed by commission estimation thereupon amounting to Rs.2,356/-forming subject matter of addition u/s 69A of the Act.
That being the case, it is hardly any dispute that the assessee has all along been getting his interest income herein from M/s Kutch Chemical Industries P. Ltd., who had availed this corresponding loan from him way back in FY 2011-12. It is further emphasized that there has been no dispute all along with the similar nature of interest income having got assessed as income from “other” sources only. This tribunal, therefore, finds no merit in the Revenue’s action holding the assessee’s interest income as an accommodation entry(ies). Deleted accordingly.
This assessee’s appeal is allowed.