https://www.taxtmi.com/caselaws?id=248497 The tribunal partially allowed the appeal, directing the AO to reassess the peak credit balance and related transactions, including negative cash balances and unredeposited withdrawals, based on the explanations and workings provided by the assessee. The addition of Rs.11,58,389/- was confirmed as the assessee failed to justify the source of these deposits, while the tribunal noted discrepancies in the explanation provided. The CIT(A) upheld the initial assessment of Rs.55,37,660/- as income from deposits in the assessee's bank accounts for the assessment year 2009-10. en-us Wed, 28 May 2014 00:00:00 +0530 Sat, 14 Jun 2014 12:14:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248497 The tribunal partially allowed the appeal, directing the AO to reassess the peak credit balance and related transactions, including negative cash balances and unredeposited withdrawals, based on the explanations and workings provided by the assessee. The addition of Rs.11,58,389/- was confirmed as the assessee failed to justify the source of these deposits, while the tribunal noted discrepancies in the explanation provided. The CIT(A) upheld the initial assessment of Rs.55,37,660/- as income from deposits in the assessee's bank accounts for the assessment year 2009-10. Case-Laws Income Tax Wed, 28 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248497