https://www.taxtmi.com/caselaws?id=431105 The Tribunal set aside the addition of unexplained income from a cash deposit made by a Cooperative Group Housing Society, as the appellant proved the genuineness of the deposit and the source of funds. The reassessment proceedings under sections 147/148 were upheld despite objections, with the delay in filing the appeal condoned due to the pandemic. The disallowance under section 68 was deleted as the appellant demonstrated the cash deposit's connection to construction contributions, meeting the burden of proof required. The Tribunal considered the appeal on its merits following the delay condonation, granting partial success to the appellant. en-us Wed, 30 Nov 2022 00:00:00 +0530 Tue, 06 Dec 2022 09:39:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431105 The Tribunal set aside the addition of unexplained income from a cash deposit made by a Cooperative Group Housing Society, as the appellant proved the genuineness of the deposit and the source of funds. The reassessment proceedings under sections 147/148 were upheld despite objections, with the delay in filing the appeal condoned due to the pandemic. The disallowance under section 68 was deleted as the appellant demonstrated the cash deposit's connection to construction contributions, meeting the burden of proof required. The Tribunal considered the appeal on its merits following the delay condonation, granting partial success to the appellant. Case-Laws Income Tax Wed, 30 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431105