https://www.taxtmi.com/caselaws?id=450179 The ITAT Ahmedabad condoned a 326-day delay in filing appeals, accepting the assessee's explanation of misguidance by former tax consultant as sufficient cause. In the substantive matter, the tribunal deleted additions made under section 153A assessment for unexplained cash credits, ruling that no additions can be made without incriminating material found during search, following SC precedent in PCIT Central-3 vs. Abhisar Buildwell Pvt. Ltd. Consequently, penalties under section 271(1)(c) were also deleted as the underlying additions were removed. The assessee's appeals were allowed. en-us Wed, 21 Feb 2024 00:00:00 +0530 Wed, 28 Feb 2024 20:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450179 The ITAT Ahmedabad condoned a 326-day delay in filing appeals, accepting the assessee's explanation of misguidance by former tax consultant as sufficient cause. In the substantive matter, the tribunal deleted additions made under section 153A assessment for unexplained cash credits, ruling that no additions can be made without incriminating material found during search, following SC precedent in PCIT Central-3 vs. Abhisar Buildwell Pvt. Ltd. Consequently, penalties under section 271(1)(c) were also deleted as the underlying additions were removed. The assessee's appeals were allowed. Case-Laws Income Tax Wed, 21 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450179