893-Day Delay Condoned; Cash Deposits Can’t Be Split Arbitrarily – Profit Estimated at 6%

Muzafar Ahmad Shah Vs ITO (ITAT Amritsar) 893-Day Delay Condoned; Cash Deposits Can’t Be Split Arbitrarily – Profit Estimated at 6% Amritsar ITAT  condoned an extraordinary delay of 893 days in filing appeal and granted substantive relief on merits by rationalising profit estimation and deleting separate cash addition. The appeal arose from a best judgment assessment u/s 144, where AO treated bank deposits of ₹171.36 lakh as business receipts, applied 8% profit rate on non-cash deposits, and separately added cash deposits of ₹10.03 lakh as unexplained. CIT(A) partly reduced the additi...