https://www.taxtmi.com/caselaws?id=264964 The Tribunal condoned the Revenue's appeal delay due to assessment record unavailability. Unexplained cash credits in the assessee's account were deleted under section 68 of the Act based on detailed submissions and evidence, leading to the addition's removal. The variance in advance payment amounts was acknowledged, emphasizing the need for proper verification. While the Tribunal accepted explanations on cash flow and transactions, it stressed establishing the source of bank deposits, remitting the matter for fresh assessment. The appeal was allowed for statistical purposes, emphasizing thorough verification in financial transaction assessments. en-us Wed, 05 Aug 2015 00:00:00 +0530 Wed, 12 Aug 2015 18:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264964 The Tribunal condoned the Revenue's appeal delay due to assessment record unavailability. Unexplained cash credits in the assessee's account were deleted under section 68 of the Act based on detailed submissions and evidence, leading to the addition's removal. The variance in advance payment amounts was acknowledged, emphasizing the need for proper verification. While the Tribunal accepted explanations on cash flow and transactions, it stressed establishing the source of bank deposits, remitting the matter for fresh assessment. The appeal was allowed for statistical purposes, emphasizing thorough verification in financial transaction assessments. Case-Laws Income Tax Wed, 05 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264964