https://www.taxtmi.com/caselaws?id=440763 The Tribunal confirmed the addition of Rs. 39,01,00,000 by the ld. CIT(Appeals) due to lack of resources of share applicants and absence of substantial business by the assessee. The appeal was dismissed as time-barred by 88 days, with the Tribunal emphasizing a liberal interpretation of "sufficient cause" for delay. The vague explanation and lack of serious contestation by the assessee in previous proceedings led to the dismissal, indicating insufficient effort to comply with obligations under the Income Tax Act. en-us Tue, 23 May 2023 00:00:00 +0530 Fri, 20 Feb 2026 17:21:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440763 The Tribunal confirmed the addition of Rs. 39,01,00,000 by the ld. CIT(Appeals) due to lack of resources of share applicants and absence of substantial business by the assessee. The appeal was dismissed as time-barred by 88 days, with the Tribunal emphasizing a liberal interpretation of "sufficient cause" for delay. The vague explanation and lack of serious contestation by the assessee in previous proceedings led to the dismissal, indicating insufficient effort to comply with obligations under the Income Tax Act. Case-Laws Income Tax Tue, 23 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440763