https://www.taxtmi.com/caselaws?id=290822 The delay in filing the appeal was condoned by the court due to a reasonable explanation provided by the assessee, emphasizing substantial justice over technicalities. Regarding the addition of Rs. 95,00,000 as unexplained cash credit, the Tribunal found the assessee had sufficiently proven the genuineness of the transactions, shifting the burden of proof to the AO. As the AO failed to disprove the evidence and relied on questionable assumptions, the Tribunal ruled in favor of the assessee, deleting the addition. The appeal was allowed, and the addition of Rs. 95,00,000 was removed. en-us Fri, 07 Feb 2014 00:00:00 +0530 Mon, 19 Oct 2020 09:08:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290822 The delay in filing the appeal was condoned by the court due to a reasonable explanation provided by the assessee, emphasizing substantial justice over technicalities. Regarding the addition of Rs. 95,00,000 as unexplained cash credit, the Tribunal found the assessee had sufficiently proven the genuineness of the transactions, shifting the burden of proof to the AO. As the AO failed to disprove the evidence and relied on questionable assumptions, the Tribunal ruled in favor of the assessee, deleting the addition. The appeal was allowed, and the addition of Rs. 95,00,000 was removed. Case-Laws Income Tax Fri, 07 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290822