I've tested your favicon in my dummy site (deleted it after the test) and it works. This means that there's some third party plugin or server and/or WordPress configuration that is causing this issue.
I see that you're using a caching plugin. Did you clear all caches as Darshana suggested previously? If so, please do purge all caches again and also ask your web host if they do have server side caching. Please ask them to purge all caches on their side also.
Please also note that this is not an issue with the theme because there's nothing in it that could prevent a favicon from displaying as you can see in my screenshot. Sorry if this was not made clear early on.
If clearing all caches doesn't work, the next thing you could do is to test for a plugin conflict. You can do this by deactivating all third party plugins, and seeing if the problem remains. If it's fixed, you'll know a plugin caused the problem, and you can narrow down which one by reactivating them one at a time.
If it still doesn't help, regretfully, you will need to forward this to a third party WordPress developer to take a look at your configuration.