Condonation of delay in filing appeal due to Financial crisis & Labour unrest justified

United Tropican Veneers Private Limited Vs. ACIT (ITAT Cochin) These appeals were filed by the ex-Directors of the assessee-company with a delay of 329 days. Petitions for condonation of delay were filed by the ex-Directors along with affidavits of the ex-Managing Directors stating therein that the quantum assessments and penalty orders were passed subsequent to their retirement and was not aware of the assessments and penalty proceedings till the ex-Directors received the recovery notices for penalty imposition u/s 271(1)(c) of the I.T.Act. At the insistence of the Bench, the present manageme...