2025 (11) TMI 1165

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....on dated 31.07.2025 supported by a duly sworn affidavit explaining the cause of delay. The relevant contents of the petition are reproduced in brief: "The assessee, being unaware of the appellate hierarchy and legal procedure, inadvertently filed another appeal in Form No. 35 before the CIT(A) on 18.03.2024 instead of before the Hon'ble Tribunal. The mistake came to notice only during response to penalty proceedings, whereupon the assessee engaged new counsel and promptly filed the present appeal. The delay was neither deliberate nor with any mala fide intent, but purely due to lack of legal guidance and bona fide misunderstanding." 3. After considering the totality of the facts and circumstances and keeping in view the principl....

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.... been deposited in the bank on that date 6. Against the order of the Ld. CIT(A) the assessee preferred an appeal before the Tribunal. 7. During the course of hearing the Ld. AR reiterated the grounds and made detailed submissions as under: (i) Genuine business and regular accounts: The assessee has been engaged in animal feed trading for more than 15 years. Books of account are maintained regularly and duly audited. The Assessing Officer has not pointed out any defect or discrepancy in purchases, sales, or trading results. (ii) Pattern of sales and deposits consistent: The turnover for the year was Rs. 2.78 crore with declared profit of Rs. 5.61 lakh. The monthly sales and deposits were pro....

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....ion sustained by the CIT(A) of Rs. 8,00,000 be deleted in full. 8. Per contra, the Ld. DR relied on the orders of the lower authorities, emphasizing: (i) The assessee deposited Rs. 8,00,000 in December 2016, i.e., more than 40 days after demonetization, without any documentary proof of generation of corresponding cash sales; (ii) The CIT(A) has already extended substantial relief by deleting Rs. 13,50,000 and sustained only Rs. 8,00,000 with detailed reasoning based on cash flow and legality of currency in circulation; (iii) There is no material on record to establish that the assessee received valid cash post 11.11.2016; and (iv) The order of the CIT(A) being reasoned and factual, deserves to be uphel....