https://www.taxtmi.com/caselaws?id=378709 Delay in filing appeals should be condoned where the explanation is bona fide and supported by sufficient cause, because a liberal approach serves substantial justice and avoids shutting out a meritorious matter at the threshold. In respect of alleged bogus purchases, where surrounding circumstances indicate accommodation bills or non-genuine transactions, the tax authorities may estimate and sustain only the profit element embedded in such purchases on a reasonable basis. Applying these principles, the delay was excused, but the 20% disallowance on bogus purchases was upheld as a reasonable estimate of the suppressed profit element. en-us Tue, 08 Jan 2019 00:00:00 +0530 Sat, 20 Apr 2019 09:31:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378709 Delay in filing appeals should be condoned where the explanation is bona fide and supported by sufficient cause, because a liberal approach serves substantial justice and avoids shutting out a meritorious matter at the threshold. In respect of alleged bogus purchases, where surrounding circumstances indicate accommodation bills or non-genuine transactions, the tax authorities may estimate and sustain only the profit element embedded in such purchases on a reasonable basis. Applying these principles, the delay was excused, but the 20% disallowance on bogus purchases was upheld as a reasonable estimate of the suppressed profit element. Case-Laws Income Tax Tue, 08 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378709