https://www.taxtmi.com/caselaws?id=399681 The Tribunal condoned the delay in filing appeals, citing a bona fide mistake by the assessees. It found that additions made based on retracted statements recorded under section 132(4) of the Income Tax Act lacked corroborative evidence and were not sustainable. The Tribunal emphasized the lack of supporting details from the Revenue and the credible retraction by the assessees, ultimately allowing the appeals and cross objections and deleting the additions in the assessees' favor. en-us Mon, 05 Oct 2020 00:00:00 +0530 Fri, 16 Oct 2020 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399681 The Tribunal condoned the delay in filing appeals, citing a bona fide mistake by the assessees. It found that additions made based on retracted statements recorded under section 132(4) of the Income Tax Act lacked corroborative evidence and were not sustainable. The Tribunal emphasized the lack of supporting details from the Revenue and the credible retraction by the assessees, ultimately allowing the appeals and cross objections and deleting the additions in the assessees' favor. Case-Laws Income Tax Mon, 05 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399681