https://www.taxtmi.com/caselaws?id=440805 The Tribunal condoned the delay in filing the appeal, citing the failure of the tax consultant to inform about the appellate order and applying the principle of "sufficient cause" liberally. The appeal was admitted. Regarding the addition under Section 68 for unexplained sundry creditors, the Tribunal found the assessee had provided details and explanations, demonstrating the genuineness of transactions and payments. As the AO did not dispute the book results and failed to show evidence of remission or cessation of liability, the Tribunal deleted the addition of Rs. 3,55,92,450/-. The appeal was allowed in favor of the assessee. en-us Fri, 09 Jun 2023 00:00:00 +0530 Thu, 27 Jul 2023 08:05:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440805 The Tribunal condoned the delay in filing the appeal, citing the failure of the tax consultant to inform about the appellate order and applying the principle of "sufficient cause" liberally. The appeal was admitted. Regarding the addition under Section 68 for unexplained sundry creditors, the Tribunal found the assessee had provided details and explanations, demonstrating the genuineness of transactions and payments. As the AO did not dispute the book results and failed to show evidence of remission or cessation of liability, the Tribunal deleted the addition of Rs. 3,55,92,450/-. The appeal was allowed in favor of the assessee. Case-Laws Income Tax Fri, 09 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440805