https://www.taxtmi.com/caselaws?id=433565 The appeal, initially noted as time-barred, was accepted for hearing after condonation of the delay. The case involved an individual trader whose cash deposits were added as unexplained money by the Assessing Officer. Despite the assessee's explanation being rejected by lower authorities, the Tribunal accepted the 8% profit declaration, deleting the additions. The judgment focused on the timeliness of the appeal, addition of unexplained money, rejection of the assessee's explanation, and comparison with similar cases, ultimately leading to the allowance of the appeal and deletion of the additions. en-us Wed, 18 Jan 2023 00:00:00 +0530 Thu, 02 Feb 2023 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433565 The appeal, initially noted as time-barred, was accepted for hearing after condonation of the delay. The case involved an individual trader whose cash deposits were added as unexplained money by the Assessing Officer. Despite the assessee's explanation being rejected by lower authorities, the Tribunal accepted the 8% profit declaration, deleting the additions. The judgment focused on the timeliness of the appeal, addition of unexplained money, rejection of the assessee's explanation, and comparison with similar cases, ultimately leading to the allowance of the appeal and deletion of the additions. Case-Laws Income Tax Wed, 18 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433565