https://www.taxtmi.com/caselaws?id=207422 The Tribunal upheld the AO's addition of Rs. 17,48,500/- as unexplained investment under section 69A, dismissing the assessee's cross-objection. The Tribunal found that the CIT(A) incorrectly applied the peak theory and the assessee failed to prove the source of repayments to depositors. The order of the CIT(A) was set aside, confirming the AO's findings. en-us Thu, 16 Dec 2010 00:00:00 +0530 Tue, 13 Dec 2011 00:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207422 The Tribunal upheld the AO's addition of Rs. 17,48,500/- as unexplained investment under section 69A, dismissing the assessee's cross-objection. The Tribunal found that the CIT(A) incorrectly applied the peak theory and the assessee failed to prove the source of repayments to depositors. The order of the CIT(A) was set aside, confirming the AO's findings. Case-Laws Income Tax Thu, 16 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207422