https://www.taxtmi.com/caselaws?id=468122 Delay in filing the first appeal was accepted on the facts, so the matter was heard on merits. Shares were bought and sold through banking channels from disclosed funds, and the related gain had already been offered and settled under the Income Declaration Scheme. In that situation, the same investment could not again be taxed as unexplained income under sections 68 and 69C. The consequential presumed commission addition also failed once the principal addition was deleted. The assessee therefore succeeded on the merits of the reassessment additions, and the appeal was allowed after condonation of delay. en-us Tue, 18 Feb 2025 00:00:00 +0530 Thu, 16 Apr 2026 19:01:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468122 Delay in filing the first appeal was accepted on the facts, so the matter was heard on merits. Shares were bought and sold through banking channels from disclosed funds, and the related gain had already been offered and settled under the Income Declaration Scheme. In that situation, the same investment could not again be taxed as unexplained income under sections 68 and 69C. The consequential presumed commission addition also failed once the principal addition was deleted. The assessee therefore succeeded on the merits of the reassessment additions, and the appeal was allowed after condonation of delay. Case-Laws Income Tax Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468122