IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A No.4573/Mum/2025 (Assessment Year: 2017-18)

Income-tax Officer vs Seth Damji Laxmichand Jain (Exemption)-2(3), Mumbai Dharma Sthanak, Room No.617, 6^th Floor, MTNL 64, Dr. Ambedkar Road, Opp. Building, Cumballa Hill, Dr. D.G. Kalachowki Post Office, Deshmuka Marg, Peddar Road, Chinchpokali, Mumbai-400 012 Mumbai-400 026 PAN: AACTS2218L APPELLANT RESPONDENT Assessee by : Shri Ravi Ganatra Respondent by : Shri Virabhadra Mahajan (SR. DR)

Date of hearing : 14/10/2025 Date of pronouncement : 17/10/2025 O R D E R Per Anikesh Banerjee (JM):

The instant appeal of the assessee filed against the order of the National Faceless Appeal Centre (NFAC), Delhi [for brevity, ‘Ld.CIT(A)] passed under section 250 of the Income-tax Act, 1961 (in short, “the Act”) for the Assessment Year 2017- 18, date of order 28/05/2025. The impugned order emanated from the order of the Ld. Income-tax Officer (Exemption), Ward 2(3), Mumbai (in short, the “Ld. AO”), the order passed U/s 143(3) of the Act, date of order 25/12/2019.

2. The brief facts of the case are th