ITAT Allows Final Opportunity to Justify Rs. 34 Lakh Deposits, Cites Fresh Evidence as Reason

ITAT allowed another final opportunity to justify ₹34 lakh deposits, accepting fresh evidence as reasonable cause for reconsideration. The tribunal demonstrated flexibility in admitting new documentation that could potentially clarify the nature of transactions, while cautioning against habitual delays. This approach maintains the delicate balance between enforcing compliance deadlines and ensuring substantive justice, particularly where new evidence could materially affect the case outcome.