2022 (2) TMI 431

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....20 and hence the due date for filing before ITAT would be 10th March, 2020. However, it was filed on 30-08-2021. It was submitted that there was little delay in collating the necessary documents and by that time the Pandemic has started. Accordingly, it is prayed that the delay may kindly be condoned. 3. I heard the parties on this preliminary issue and perused the record. Having regard to the submissions made in the petition, I am of the view that there was reasonable cause for the assessee in filing the appeal belatedly. Accordingly, I condone the delay and admit the appeal for hearing. 4. The issues contested in this appeal relate to following additions:- a) Addition made u/s. 68 of the Act - Rs. 23,00,000/- b) Addition of agricult....

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....balance sheet as on 31.3.2016. The Ld. A.R. further submitted that the total cash deposits made into the bank account of the assessee was around Rs. 7 lakhs only and hence there could not be any receipt of Rs. 23.00 lakhs. He further submitted that the opening balance of cash credit could not have been assessed in the year under consideration u/s. 68 of the Act, as the same is not received during the current year. He submitted that the assessee has furnished copies of bank statements and also copies of income tax return filed by the assessee for assessment year 2015-16 in support of the above said contentions. The Ld. A.R. accordingly prayed that these documents be admitted and the matter may be restored to the file of the A.O. for examinin....