https://www.taxtmi.com/caselaws?id=469289 A short delay in filing the ITAT appeal was accepted as bona fide and condoned on the basis of a plausible affidavit-supported explanation. The Tribunal also admitted additional evidence and a revised computation, noting that appellate authorities are not barred from considering a revised claim merely because no revised return was filed. Because the dispute over bank deposits, turnover and business receipts depended on factual verification, the matter was remanded to the Assessing Officer for fresh examination after giving the assessee adequate opportunity. The approach emphasised that bank deposits linked to business activity should be verified on surrounding facts and peak basis rather than treated mechanically as unexplained income. en-us Tue, 04 Mar 2025 00:00:00 +0530 Sat, 13 Jun 2026 08:36:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469289 A short delay in filing the ITAT appeal was accepted as bona fide and condoned on the basis of a plausible affidavit-supported explanation. The Tribunal also admitted additional evidence and a revised computation, noting that appellate authorities are not barred from considering a revised claim merely because no revised return was filed. Because the dispute over bank deposits, turnover and business receipts depended on factual verification, the matter was remanded to the Assessing Officer for fresh examination after giving the assessee adequate opportunity. The approach emphasised that bank deposits linked to business activity should be verified on surrounding facts and peak basis rather than treated mechanically as unexplained income. Case-Laws Income Tax Tue, 04 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469289