2020 (5) TMI 396

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....ere-in-after referred to as "the Act") dated 12/02/2016 relevant to the Assessment Year 2012-2013. The assessee has raised the following grounds of appeal. 1. The learned CIT (Appeal-5) erred in passing the order by confirming addition of Rs. 828354/- u/s.50C of IT Act, 1961. 2. The learned CIT(Appeals-5) erred in passing the order by confirming addition of Rs. 3331563/- being unexplained cash credit. 3. The learned CIT (Appeal-5) erred in passing the order by confirming addition of Rs. 304500/- being unexplained creditors. 4. The learned CIT(Appeal-5) erred in passing the order by confirming addition of Rs. 140285/- being unexplained addition in capital. 5. The learned CIT (Appeal-5) erred in passing the order by confirming disa....

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....he assessee within the time due to some unavoidable reason. In the present case we find that the assessee could not file the appeal due to change in the place of employment i.e. from Ahmedabad to Pune. The Revenue has not brought anything on record contrary to the contention of the assessee justifying the delay in filing the appeal. Therefore, we presume content of the application filed by the assessee is correct despite of the fact that the condonation petition was not supported with the corroborative evidences for shifting employment from Ahmedabad to Pune. We are not ignorant to the fact that the assessee should be penalized for the default committed by him for not presenting the appeal in time but in our considered view the penalty shou....