https://www.taxtmi.com/caselaws?id=386470 The court allowed the condonation of delay in re-filing the appeal. However, the appeal against the invocation of Section 68 of the Income Tax Act, 1961 was upheld, resulting in the addition of Rs. 5,40,000 to the assessee's income. The court found discrepancies in the employee's financial transactions, casting doubts on their creditworthiness. Despite arguments against the application of deeming provisions under Section 68, the appeal failed due to insufficient evidence. Doubts regarding the capacity to pay arose from the appellant's decision to hold a significant amount of cash. The court distinguished the case from a previous judgment, leading to the dismissal of the appeal. en-us Wed, 11 Sep 2019 00:00:00 +0530 Sat, 28 Sep 2019 10:22:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386470 The court allowed the condonation of delay in re-filing the appeal. However, the appeal against the invocation of Section 68 of the Income Tax Act, 1961 was upheld, resulting in the addition of Rs. 5,40,000 to the assessee's income. The court found discrepancies in the employee's financial transactions, casting doubts on their creditworthiness. Despite arguments against the application of deeming provisions under Section 68, the appeal failed due to insufficient evidence. Doubts regarding the capacity to pay arose from the appellant's decision to hold a significant amount of cash. The court distinguished the case from a previous judgment, leading to the dismissal of the appeal. Case-Laws Income Tax Wed, 11 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386470