2025 (9) TMI 1251

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....e instant appeal before this Tribunal. Assessee has filed an application for condonation of delay explaining the reasons which led to delay in filing of the appeal. 3. After hearing both the sides and perusing the averments made in the condonation application, I am satisfied that there was 'reasonable cause' which prevented the assessee to file the appeal within the stipulated time. I note that the assessee would not have gained from filing the appeal with a delay. I therefore in light of judgments of Hon'ble Apex Court in the case of Collector, Land Acquisition, Anantnag & Anr. Vs. Mst. Katiji & Ors. reported in (1987) 2 SCC 107 and in the case of Inder Singh Vs. State of Madhya Pradesh judgment dated 21.03.2025 (2025 INSC 382) condone th....

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....ation and made addition thereof. Thirdly, ld. AO observed that assessee has claimed to have earned Agricultural Income but against the cash deposit of Rs. 1,65,900/-, the income has been declared at Rs. 1,80,900/-. Though the assessee submitted 7/12 extract but in the absence of the name of assessee in such document and in absence of other details ld. AO denied the benefit of exemption and made addition of Rs. 1,65,900/- for unexplained cash credit u/s. 68. Income assessed at Rs. 28,68,260/-. Aggrieved assessee preferred appeal before ld.CIT(A) but failed to succeed and ld.CIT(A) dismissed the assessee's appeal confirming the additions made by the ld.AO. Aggrieved assessee is now in appeal before this Tribunal. 6. Ld. Counsel for the asses....

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....the demonetization period. Assessee has also furnished details of receivables appearing in the assessment order at para 7. Assessee has also furnished Audited Balance Sheet and Profit and Loss Account along with relevant Annexures. Sundry Debtors are part and parcel of the regular business activity carried out by the assessee and ld. AO has disputed receipt of such sum from the outstanding debtors merely referring to the demonetization period but no finding is made against the assessee by making the necessary verification of the debtors list filed before ld. AO. I find merit in the contention of ld. Counsel for the assessee. I find that the assessee received the same from the outstanding debtors in SBNs during the demonetization period whic....