https://www.taxtmi.com/caselaws?id=282518 The Tribunal condoned the delay in filing the appeal, considering the assessee's lack of experience in tax matters and reliance on a tax consultant. Regarding unexplained cash deposits, the Tribunal limited the addition under Section 68 of the Income Tax Act to the peak credit in the bank account, remanding the case for the assessee to explain the source of deposits. The appeal was partly allowed, emphasizing the importance of providing reasonable explanations for delays and clarifying sources of income in tax matters. en-us Wed, 09 Nov 2016 00:00:00 +0530 Thu, 22 Aug 2019 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282518 The Tribunal condoned the delay in filing the appeal, considering the assessee's lack of experience in tax matters and reliance on a tax consultant. Regarding unexplained cash deposits, the Tribunal limited the addition under Section 68 of the Income Tax Act to the peak credit in the bank account, remanding the case for the assessee to explain the source of deposits. The appeal was partly allowed, emphasizing the importance of providing reasonable explanations for delays and clarifying sources of income in tax matters. Case-Laws Income Tax Wed, 09 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282518