https://www.taxtmi.com/caselaws?id=434821 The Tribunal condoned the delay in filing the appeal due to reasons including the COVID-19 lockdown and the tax consultant's failure. They admitted the appeal for hearing on merits, emphasizing the disproportionate hardship faced by the assessee. Regarding the addition of Rs. 29,56,440/- as unexplained investment, the Tribunal determined the income at 8% of total cash deposits, reducing the addition to Rs. 2,36,500/-. The judgment highlighted the importance of fair assessment and practical considerations for small businesses. en-us Wed, 01 Mar 2023 00:00:00 +0530 Sat, 04 Mar 2023 07:28:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434821 The Tribunal condoned the delay in filing the appeal due to reasons including the COVID-19 lockdown and the tax consultant's failure. They admitted the appeal for hearing on merits, emphasizing the disproportionate hardship faced by the assessee. Regarding the addition of Rs. 29,56,440/- as unexplained investment, the Tribunal determined the income at 8% of total cash deposits, reducing the addition to Rs. 2,36,500/-. The judgment highlighted the importance of fair assessment and practical considerations for small businesses. Case-Laws Income Tax Wed, 01 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434821