SRI VAIBHAVA LAKSHMI ENTERPRISES PRIVATE LIMITED,NANDIGAMA MANDAL vs. ACIT, CIRCLE-2(1), VIJAYAWADA

ITA 605/VIZ/2025Status: DisposedITAT Visakhapatnam31 August 2026AY 2017-1834 pages
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What did the Tribunal hold?

The Tribunal condoned the delay in filing the appeal, finding the reasons provided by the assessee to be bonafide and not intentional. The Tribunal then proceeded to decide the substantive issue regarding additions made under Section 68.

What were the facts?

The assessee filed an appeal before the ITAT with a delay of 484 days. The delay was attributed to a change in the company's accounts manager and a lack of communication regarding the CIT(A)'s order. The CIT(A) had dismissed the assessee's appeal.

What were the issues?

Whether the delay in filing the appeal should be condoned and whether the additions made under Section 68 were justified.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Hearing: 19.08.2026

PER MANJUNATHA G., ACCOUNTANT MEMBER :

This appeal filed by the Assessee is directed against the Order of Commissioner of Income Tax (Appeals), [“Ld CIT(A)”],

2 ITA.No.605/Viz/2025

National Faceless Appeal Centre (“NFAC”), Delhi dated 17.04.2024 for the assessment year 2017-2018. 2. There is a delay of 484 days in filing the present appeal. The assessee has filed a petition for condonation of delay, which is supported by an affidavit of the Managing Director

The order continues below.

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