2025 (2) TMI 1860

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....s a delay of 260 days in filing the appeal before the Tribunal. We are satisfied with the averments stated in the affidavit and petition seeking for condonation of delay and accordingly, we, condone the delay of 260 days in filing the appeal before the Tribunal and proceed the decide the appeal on merits. 3. Facts of the case, in brief, are that the assessee is a firm engaged in the business of land developers. The assessee e-filed return of income on 31.03.2018 declaring total income at Rs. 2,90.450/- which was processed u/sec.143(1) of the Act. The case of the assessee was selected for complete scrutiny under CASS. The Assessing Officer issued statutory notices u/sec.143(2) and 142(1) of the Act and in response thereto, the assessee ha....

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....ercising his revisional powers u/sec.263 of the Act set aside the assessment order of the Assessing Officer and directed to inquire into the above issues. 5. Aggrieved by the order of the learned PCIT, Nagpur-2, the assessee carried the matter in appeal before the Tribunal. 6. During the course of hearing, Learned Counsel for the Assessee submitted that the assessee has cash receipt of Rs. 84,11,738/- for the F.Y. 2016-2017 relevant to the impugned assessment year 2017-2018 but assessee declared in his P & L A/c a sum of Rs. 72,22,000/- and for the balance sum of Rs. 11,89,738/- during the course of assessment proceedings the Assessing Officer called for the information which were duly placed and examined by the Assessing Officer and ....