https://www.taxtmi.com/caselaws?id=765570 The Tribunal condoned the delay in filing the appeal, allowing it to proceed. It found that Section 68 of the Income Tax Act, related to unexplained cash credits, was inapplicable as the assessee did not maintain books of accounts and no credits were recorded. Consequently, the Tribunal directed the deletion of the additions made by the Assessing Officer. Additionally, the Tribunal ruled that the Commissioner of Income Tax (Appeals)'s application of Section 69A was inappropriate, rendering the order unsustainable. The appeal was allowed in favor of the assessee. en-us Tue, 28 Jan 2025 00:00:00 +0530 Tue, 04 Feb 2025 08:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765570 The Tribunal condoned the delay in filing the appeal, allowing it to proceed. It found that Section 68 of the Income Tax Act, related to unexplained cash credits, was inapplicable as the assessee did not maintain books of accounts and no credits were recorded. Consequently, the Tribunal directed the deletion of the additions made by the Assessing Officer. Additionally, the Tribunal ruled that the Commissioner of Income Tax (Appeals)'s application of Section 69A was inappropriate, rendering the order unsustainable. The appeal was allowed in favor of the assessee. Case-Laws Income Tax Tue, 28 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765570