https://www.taxtmi.com/caselaws?id=306135 The cross objection filed by the revenue was dismissed as barred by limitation without a satisfactory explanation for the delay. The main issue in the appeal by the assessee concerned the validity of additions made under section 68 of the Income Tax Act due to unexplained cash credits from significant cash deposits in bank accounts. Despite initial challenges and discrepancies, the Tribunal granted the assessee an opportunity to provide detailed information and reconcile transactions within a specified timeframe. As a result, the appeal by the assessee was allowed for statistical purposes, emphasizing the importance of due process and cooperation with tax authorities. en-us Fri, 10 Oct 2014 00:00:00 +0530 Thu, 12 Jan 2023 21:07:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306135 The cross objection filed by the revenue was dismissed as barred by limitation without a satisfactory explanation for the delay. The main issue in the appeal by the assessee concerned the validity of additions made under section 68 of the Income Tax Act due to unexplained cash credits from significant cash deposits in bank accounts. Despite initial challenges and discrepancies, the Tribunal granted the assessee an opportunity to provide detailed information and reconcile transactions within a specified timeframe. As a result, the appeal by the assessee was allowed for statistical purposes, emphasizing the importance of due process and cooperation with tax authorities. Case-Laws Income Tax Fri, 10 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306135