https://www.taxtmi.com/caselaws?id=181442 The Appellate Tribunal partially allowed the Assessee's appeal against the order of the Commissioner of Income Tax (Appeals) for Assessment Year 2007-08. The Tribunal reduced the addition on account of the difference in bank account and sales from &8377; 17,31,629 to &8377; 1,15,892 based on the peak balance theory and disclosed income. The Tribunal emphasized factual estimation in determining income and partially allowed the appeal, considering the nature of the business, sales, and bank transactions. General grounds 5 & 6 were not independently adjudicated. en-us Fri, 30 May 2014 00:00:00 +0530 Mon, 18 Apr 2016 08:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181442 The Appellate Tribunal partially allowed the Assessee's appeal against the order of the Commissioner of Income Tax (Appeals) for Assessment Year 2007-08. The Tribunal reduced the addition on account of the difference in bank account and sales from &8377; 17,31,629 to &8377; 1,15,892 based on the peak balance theory and disclosed income. The Tribunal emphasized factual estimation in determining income and partially allowed the appeal, considering the nature of the business, sales, and bank transactions. General grounds 5 & 6 were not independently adjudicated. Case-Laws Income Tax Fri, 30 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181442