Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Addition regarding Cash deposit in Bank Account - based on AIR Information - when there is no evidence with the Revenue that the withdrawals made by the assessee systematically from the bank account have been utilized for some other purpose other than for the unaccounted business of the assessee then the assessee should be given the benefit of peak credit theory and only the peak credit has to be sustained
Addition regarding Cash deposit in Bank Account - based on AIR Information - when there is no evidence with the Revenue that the withdrawals made by the assessee systematically from the bank account have been utilized for some other purpose other than for the unaccounted business of the assessee then the assessee should be given the benefit of peak credit theory and only the peak credit has to be sustained
Note: It is a system-generated summary and is for quick reference only.
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