https://www.taxtmi.com/caselaws?id=354848 The Tribunal partially allowed the appeal, emphasizing the importance of proper documentation and verification in tax assessments. The appellant's delay in filing the appeal was condoned. However, challenges to additions in net profit calculation for the computer business were rejected due to lack of supporting documentation. The additions for unexplained deposits in bank accounts and FDRs were also upheld initially but were set aside for reconsideration, with directions for thorough verification. The case highlights the necessity of detailed evidence and procedural fairness in tax matters. en-us Thu, 01 Feb 2018 00:00:00 +0530 Mon, 05 Feb 2018 09:03:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354848 The Tribunal partially allowed the appeal, emphasizing the importance of proper documentation and verification in tax assessments. The appellant's delay in filing the appeal was condoned. However, challenges to additions in net profit calculation for the computer business were rejected due to lack of supporting documentation. The additions for unexplained deposits in bank accounts and FDRs were also upheld initially but were set aside for reconsideration, with directions for thorough verification. The case highlights the necessity of detailed evidence and procedural fairness in tax matters. Case-Laws Income Tax Thu, 01 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354848