https://www.taxtmi.com/caselaws?id=456138 The ITAT dismissed the assessee's appeal concerning the addition of Rs. 12,077,814 as unexplained credit under Section 68 of the I.T. Act, 1961, due to lack of prosecution. Despite proper service of notice, neither the assessee nor a representative appeared, indicating disinterest in pursuing the appeal. The tribunal emphasized the necessity of active pursuit, referencing legal precedents. It noted that the appeal could be reconsidered if a valid explanation for non-appearance is provided, but absent such justification, the dismissal stands. The order was pronounced on 20.12.2011, concluding the proceedings. en-us Tue, 20 Dec 2011 00:00:00 +0530 Tue, 02 Jul 2024 12:50:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456138 The ITAT dismissed the assessee's appeal concerning the addition of Rs. 12,077,814 as unexplained credit under Section 68 of the I.T. Act, 1961, due to lack of prosecution. Despite proper service of notice, neither the assessee nor a representative appeared, indicating disinterest in pursuing the appeal. The tribunal emphasized the necessity of active pursuit, referencing legal precedents. It noted that the appeal could be reconsidered if a valid explanation for non-appearance is provided, but absent such justification, the dismissal stands. The order was pronounced on 20.12.2011, concluding the proceedings. Case-Laws Income Tax Tue, 20 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456138