https://www.taxtmi.com/caselaws?id=311130 The Tribunal dismissed the appeals filed by the assessees concerning the addition of investments in the share capital of SBQ Steels Ltd. as unexplained income under section 68 of the Income Tax Act. The appeals, initially barred by a 140-day delay due to the Covid-19 pandemic, were admitted following SC directions to condone such delays. However, the Tribunal upheld the lower authorities' orders, finding insufficient evidence from the assessees to substantiate the source of the investments. The decision was announced on 25th November 2022, at Chennai. en-us Fri, 25 Nov 2022 00:00:00 +0530 Sat, 09 Dec 2023 08:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311130 The Tribunal dismissed the appeals filed by the assessees concerning the addition of investments in the share capital of SBQ Steels Ltd. as unexplained income under section 68 of the Income Tax Act. The appeals, initially barred by a 140-day delay due to the Covid-19 pandemic, were admitted following SC directions to condone such delays. However, the Tribunal upheld the lower authorities' orders, finding insufficient evidence from the assessees to substantiate the source of the investments. The decision was announced on 25th November 2022, at Chennai. Case-Laws Income Tax Fri, 25 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311130