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of <h1>Income Tax Appeal Succeeds: Medical Reasons Validate Late Filing, Retirement Funds Recognized as Legitimate Investment Source</h1> <h3>Suprakash Saha Versus D.C.I.T., Circle - 52 (1), Kolkata,</h3> Suprakash Saha Versus D.C.I.T., Circle - 52 (1), Kolkata, - TMI The Appellate Tribunal (ITAT Kolkata) allowed the assessee's appeal against the order of the National Faceless Appeal Centre (Ld. CIT(A)) dated 13.08.2024 for AY 2013-14, which had confirmed the disallowance of Rs. 16,36,800 as unexplained investment under section 69 of the Income Tax Act. The assessee, a retired Government employee, had invested in LIC partly through cash, which the AO disallowed after reopening the case under section 147/148, treating the cash investment as unexplained.The Tribunal noted a 12-day delay in filing the appeal but condoned it on medical grounds. On merits, it was held that the addition was unsustainable because the assessee had adequate and legitimate sources of funds-retirement benefits and an investment in I-Core Services Ltd-corroborated by documentary evidence including bounced cheque details and subsequent cash receipts. The Tribunal concluded that the cash used for LIC installments was explained and directed the AO to delete the addition. The appeal was therefore allowed.
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