2025 (5) TMI 2036

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.... by the assessee is emanating from the order of the NFAC, Delhi in Appeal No. ITBA/NFAC/S/250/2024-25/1064936602(1) order dated 16.05.2024. 2. At the threshold, it is noted that there is a delay of 100 days in filing the appeal before the Tribunal. In this regard, assessee has filed the Application for Condonation of Delay supporting with his Affidavit stating therein that the delay was occurre....

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....on has been attributed to the assessee for filing the belated appeal, hence, I condone the delay in dispute in filing the appeal before the Tribunal. 3. Briefly stated, facts are that asssessee filed return of income on 29.12.2021, declaring total income of Rs. 4,40,550/-. The case of the assessee was scrutinized for complete scrutiny through CASS. The AO noted that the assessee made imports to....

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....nd the same has been rectified by filing Updated return u/s 139(8A) on 12.01.2023. The assessment in the case of the appellant was completed on 27.12.2022. After going through the Balance Sheet of the appellant, it is noticed that the appellant has furnished Balance Sheet and P&L Account dated 30.12.2022. It is clear from the above that the appellant disclosed his business income only after comple....

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....Hence, the grounds of appeal no. 1 and 2 are dismissed." 5. Against the aforesaid order of the Ld. First Appellate Authority, assessee is in appeal before this Tribunal. 6. I have heard the rival contentions and perused the records. I find that it is an admitted fact that before the lower authorities assessee was unable to produce any voucher/ invoice and other evidence to explain gross prof....