TaxTMI 
TaxTMI 
2022 (10) TMI 1223
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....med the additions of Rs.2340000/- as unexplained credit without properly considering the details furnished by the appellant. 2) The learned CIT (A) has erred in law while failing to consider the entries in the bank statements regarding borrowings by cheque and repayment by cheque are sufficient evidence/s to prove the genuineness of the borrowings. 3) The learned CIT (A) has erred in law while failing to consider the bank statement entries which itself proved that loans were received by cheque and repaid by cheque and wrongly treated the same as unexplained cash credits. 4) The learned CIT(A) has failed to consider the confirmation letters produced in respect of the lenders containing the PAN NO and address of the lenders as valid ....
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.... condonation of delay along with affidavit explaining reasons for delay in filing appeal has been filed. The Ld. Counsel for the assessee, referring to petition filed by the assessee for condonation of delay submitted that belated filing of the appeal was neither willful not deliberate, but beyond control of the assessee, because the assessee had taken a professional advice for not filing further appeal against order of the first appellate authority due to non-availability of confirmation letters from the creditors. However, during penalty proceedings before the AO u/s. 271(1)(c) of the Act, the assessee could able to get confirmation letter from the creditors and got favorable order from the first appellate authority, where the CIT(A) dele....
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....rit in the reasons given by the assessee in the petition for condonation of delay in filing of the appeal. 7. Be that as it may. Coming back to the legal position evolved by the decision of various High Courts, including the Hon'ble Supreme Court in number of cases, where it has been, time and again, held that when merits and technicalities are pitted against each other, then merit alone deserves to be prevailed, because, if you throw out a meritorious case out of judicial scrutiny on the grounds of technicalities, then you may deprive the right of the petitioner in pursuing their case. At the same time, various Courts have held that rules of limitation are not meant to destroy the rights of parties, but they are meant to see that parties ....