https://www.taxtmi.com/caselaws?id=244238 The Tribunal dismissed all appeals filed by the assessees. The re-opening of assessments under Section 148 was upheld as the issue was not pressed. The addition of unexplained cash deposits under Section 68 was confirmed, and the peak credit theory was deemed inapplicable. The argument for taxing only the commission income from accommodation entries was rejected as it was not raised at earlier stages. The Tribunal's decision was consistent with previous rulings involving the same assessees. en-us Fri, 20 Sep 2013 00:00:00 +0530 Thu, 20 Feb 2014 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244238 The Tribunal dismissed all appeals filed by the assessees. The re-opening of assessments under Section 148 was upheld as the issue was not pressed. The addition of unexplained cash deposits under Section 68 was confirmed, and the peak credit theory was deemed inapplicable. The argument for taxing only the commission income from accommodation entries was rejected as it was not raised at earlier stages. The Tribunal's decision was consistent with previous rulings involving the same assessees. Case-Laws Income Tax Fri, 20 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244238