https://www.taxtmi.com/caselaws?id=280382 The tribunal condoned the delay in filing the appeal due to oversight by the assessee and proceeded to hear the case on its merits. Regarding the addition on peak credit basis, the tribunal found the Ld.CIT(A)'s computation inappropriate and remitted the matter back to the Ld.AO for fresh consideration, emphasizing the importance of considering peak credit at any given point during the assessment year. The tribunal highlighted the significance of assessing the financial positions of all co-parceners in an HUF when making income additions, ultimately allowing the appeal for statistical purposes. en-us Mon, 14 Aug 2017 00:00:00 +0530 Fri, 03 May 2019 08:55:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280382 The tribunal condoned the delay in filing the appeal due to oversight by the assessee and proceeded to hear the case on its merits. Regarding the addition on peak credit basis, the tribunal found the Ld.CIT(A)'s computation inappropriate and remitted the matter back to the Ld.AO for fresh consideration, emphasizing the importance of considering peak credit at any given point during the assessment year. The tribunal highlighted the significance of assessing the financial positions of all co-parceners in an HUF when making income additions, ultimately allowing the appeal for statistical purposes. Case-Laws Income Tax Mon, 14 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280382