https://www.taxtmi.com/caselaws?id=247049 The Tribunal held that only the peak credit in the PNB bank account should be considered as the income of the assessee under sections 68 and 69 of the Income Tax Act. The Tribunal directed the Assessing Officer to limit the addition for unexplained credits and restored the issue of interest under section 234B for further determination. The appellant's arguments on profit calculation related to retail trade and treatment of credits as retail turnover were either dismissed or not pursued, resulting in the disposal of the appeal with various grounds allowed or dismissed based on legal considerations. en-us Thu, 17 Apr 2014 00:00:00 +0530 Wed, 30 Apr 2014 10:56:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247049 The Tribunal held that only the peak credit in the PNB bank account should be considered as the income of the assessee under sections 68 and 69 of the Income Tax Act. The Tribunal directed the Assessing Officer to limit the addition for unexplained credits and restored the issue of interest under section 234B for further determination. The appellant's arguments on profit calculation related to retail trade and treatment of credits as retail turnover were either dismissed or not pursued, resulting in the disposal of the appeal with various grounds allowed or dismissed based on legal considerations. Case-Laws Income Tax Thu, 17 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247049