https://www.taxtmi.com/forum/issue?id=113397 Assessment treated bank deposit from a land sale as unexplained credit after funds were transferred abroad; the assessee lacked PAN, had not filed returns, and was resident overseas when proceedings were taken. Practically, the assessee should compute tax for the year, pay due tax with interest, file an appeal against the assessment and demand, and seek condonation of delay from the appellate authority by explaining foreign residence and late knowledge of the assessment while contesting the characterization of the deposit as unexplained credit. en-us Sat, 10 Feb 2018 15:09:46 +0530 Thu, 23 Jan 2025 15:55:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=113397 Assessment treated bank deposit from a land sale as unexplained credit after funds were transferred abroad; the assessee lacked PAN, had not filed returns, and was resident overseas when proceedings were taken. Practically, the assessee should compute tax for the year, pay due tax with interest, file an appeal against the assessment and demand, and seek condonation of delay from the appellate authority by explaining foreign residence and late knowledge of the assessment while contesting the characterization of the deposit as unexplained credit. Discussion-Forum Income Tax Sat, 10 Feb 2018 15:09:46 +0530 https://www.taxtmi.com/forum/issue?id=113397