https://www.taxtmi.com/caselaws?id=447573 Delay in filing the appeals was condoned on a liberal, justice-oriented approach, as the assessee showed reasonable cause linked to the Covid-19 period and medical circumstances. Reassessment for the earlier year was quashed because the Assessing Officer did not dispose of reopening objections by a speaking order and the recorded reasons showed mismatch and lack of application of mind. For the later year, additions based on bank deposits were reduced: cheque deposits were deleted as explained from known sources, while cash deposits were sustained only to the extent of an estimated 5% profit element. en-us Tue, 12 Dec 2023 00:00:00 +0530 Fri, 29 Dec 2023 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447573 Delay in filing the appeals was condoned on a liberal, justice-oriented approach, as the assessee showed reasonable cause linked to the Covid-19 period and medical circumstances. Reassessment for the earlier year was quashed because the Assessing Officer did not dispose of reopening objections by a speaking order and the recorded reasons showed mismatch and lack of application of mind. For the later year, additions based on bank deposits were reduced: cheque deposits were deleted as explained from known sources, while cash deposits were sustained only to the extent of an estimated 5% profit element. Case-Laws Income Tax Tue, 12 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447573