https://www.taxtmi.com/caselaws?id=261363 The Tribunal upheld the ld. CIT(A)'s decision to restrict the addition of an unexplained deposit in the bank account to Rs. 9,41,557 for AY 2007-08. The Tribunal applied the peak credit theory to determine the unexplained income, considering the systematic nature of the account transactions. Both the Revenue and the assessee's objections were dismissed, with the Tribunal affirming the addition and confirming the disallowance of other disputed expenditures, including phone and vehicle expenses. en-us Wed, 24 Jun 2015 00:00:00 +0530 Fri, 10 Jul 2015 06:29:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261363 The Tribunal upheld the ld. CIT(A)'s decision to restrict the addition of an unexplained deposit in the bank account to Rs. 9,41,557 for AY 2007-08. The Tribunal applied the peak credit theory to determine the unexplained income, considering the systematic nature of the account transactions. Both the Revenue and the assessee's objections were dismissed, with the Tribunal affirming the addition and confirming the disallowance of other disputed expenditures, including phone and vehicle expenses. Case-Laws Income Tax Wed, 24 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261363