https://www.taxtmi.com/caselaws?id=233714 The Tribunal allowed the appeal for statistical purposes, remanding the matter back to the Assessing Officer for a fresh assessment. The decision emphasized the importance of accurate assessment procedures and the need to consider all relevant factors while determining peak credit balances. The Tribunal directed the officer to verify all bank account transactions and exclude any previously disclosed transactions when calculating the peak credit balance, ensuring a fair opportunity for the assessee to present their case during the reassessment process. en-us Mon, 08 Apr 2013 00:00:00 +0530 Mon, 13 May 2013 12:27:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233714 The Tribunal allowed the appeal for statistical purposes, remanding the matter back to the Assessing Officer for a fresh assessment. The decision emphasized the importance of accurate assessment procedures and the need to consider all relevant factors while determining peak credit balances. The Tribunal directed the officer to verify all bank account transactions and exclude any previously disclosed transactions when calculating the peak credit balance, ensuring a fair opportunity for the assessee to present their case during the reassessment process. Case-Laws Income Tax Mon, 08 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233714