https://www.taxtmi.com/caselaws?id=288088 The Tribunal condoned the delay in filing the appeal due to the assessee's medical condition and admitted the appeal for adjudication. Regarding the addition of Rs. 32,50,000 as unexplained investments, the Tribunal accepted the assessee's explanation that the cash deposits were sourced from earlier withdrawals and held that the deposits were reasonably presumed to be legitimate. Consequently, the Tribunal deleted the entire addition made by the Assessing Officer, ruling in favor of the assessee. en-us Fri, 29 Nov 2019 00:00:00 +0530 Tue, 19 May 2020 10:20:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288088 The Tribunal condoned the delay in filing the appeal due to the assessee's medical condition and admitted the appeal for adjudication. Regarding the addition of Rs. 32,50,000 as unexplained investments, the Tribunal accepted the assessee's explanation that the cash deposits were sourced from earlier withdrawals and held that the deposits were reasonably presumed to be legitimate. Consequently, the Tribunal deleted the entire addition made by the Assessing Officer, ruling in favor of the assessee. Case-Laws Income Tax Fri, 29 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288088