Sri Nidhi Finance vs. The Income Tax Officer

Parties Involved

Facts Summary

This appeal was filed by the assessee, Sri Nidhi Finance, against the order dated 28.06.2022 passed by the Commissioner of Income Tax (Appeals) for the assessment year 2015-16. The assessee filed the appeal with a delay of 658 days, submitting a notarized affidavit explaining the reasons for the delay. The assessee argued that they were prevented from filing the appeal on time due to certain reasons. The respondent opposed the appeal, arguing that the reasons provided were general and insufficient. The Tribunal decided to condone the delay on the condition that the assessee pays a cost of ₹50,000 to the State Legal Aid Authority within 30 days.…

Legal Issues

• 1. Condonation of delay in filing the appeal
• 2. Addition made under section 68 of the Income Tax Act, 1961

Judgment Outcome

Decided in favour of Assessee.

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