https://www.taxtmi.com/caselaws?id=334416 The Tribunal admitted the appeal despite a one-day delay in filing, considering the appellant's reasonable explanation. The appellant, a pharmaceutical retailer, failed to disclose a bank account with substantial credits, leading the Revenue to treat the entire amount as unexplained income due to insufficient evidence. The burden of proof rested on the appellant to explain the deposits. The Tribunal emphasized the appellant's responsibility to prove the nature and source of credits, recommending a detailed examination of undisclosed transactions and expenses. The Assessing Officer was directed to reassess the income based on the undisclosed bank account and credits. en-us Wed, 21 Sep 2016 00:00:00 +0530 Sun, 13 Nov 2016 23:02:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334416 The Tribunal admitted the appeal despite a one-day delay in filing, considering the appellant's reasonable explanation. The appellant, a pharmaceutical retailer, failed to disclose a bank account with substantial credits, leading the Revenue to treat the entire amount as unexplained income due to insufficient evidence. The burden of proof rested on the appellant to explain the deposits. The Tribunal emphasized the appellant's responsibility to prove the nature and source of credits, recommending a detailed examination of undisclosed transactions and expenses. The Assessing Officer was directed to reassess the income based on the undisclosed bank account and credits. Case-Laws Income Tax Wed, 21 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334416