https://www.taxtmi.com/caselaws?id=469854 Delay in filing the appeal was condoned because the assessee showed reasonable cause through illness records, change of counsel, and the earlier counsel's failure to communicate the order. On the merits, additions for cash deposits and the amount later disclosed in a revised VAT return were deleted because the assessee supported the receipts with audited books, stock, purchase and sales records, and a plausible business explanation, while the Revenue produced no corroborative evidence of undisclosed income or independent rebuttal. The tribunal also held that Section 68 was wrongly invoked on these facts, as the dispute concerned business receipts rather than a loan or cash credit transaction. en-us Fri, 22 May 2026 00:00:00 +0530 Mon, 06 Jul 2026 20:36:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469854 Delay in filing the appeal was condoned because the assessee showed reasonable cause through illness records, change of counsel, and the earlier counsel's failure to communicate the order. On the merits, additions for cash deposits and the amount later disclosed in a revised VAT return were deleted because the assessee supported the receipts with audited books, stock, purchase and sales records, and a plausible business explanation, while the Revenue produced no corroborative evidence of undisclosed income or independent rebuttal. The tribunal also held that Section 68 was wrongly invoked on these facts, as the dispute concerned business receipts rather than a loan or cash credit transaction. Case-Laws Income Tax Fri, 22 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469854