https://www.taxtmi.com/caselaws?id=472625 Condonation of delay was appropriate where the taxpayer established bona fide sufficient cause arising from misunderstanding of revision and reassessment proceedings, professional advice, disability and guardianship, with no mala fide or dilatory conduct; delay length alone was not determinative. Additional evidence concerning RBI Bond investments, including bank and repayment records, required verification before determining unexplained credits under Section 68. Penalty for concealment required reconsideration where it was confirmed ex parte without a reasonable opportunity to contest the matter or submit supporting material. The quantum addition and penalty required fresh fact-based examination after appropriate hearing. en-us Thu, 22 May 2025 00:00:00 +0530 Sat, 17 Oct 2026 18:37:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472625 Condonation of delay was appropriate where the taxpayer established bona fide sufficient cause arising from misunderstanding of revision and reassessment proceedings, professional advice, disability and guardianship, with no mala fide or dilatory conduct; delay length alone was not determinative. Additional evidence concerning RBI Bond investments, including bank and repayment records, required verification before determining unexplained credits under Section 68. Penalty for concealment required reconsideration where it was confirmed ex parte without a reasonable opportunity to contest the matter or submit supporting material. The quantum addition and penalty required fresh fact-based examination after appropriate hearing. Case-Laws Income Tax Thu, 22 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472625