https://www.taxtmi.com/caselaws?id=185620 The Appellate Tribunal upheld the CIT(Appeals)' decision to delete an addition of Rs. 18,33,676 made by the Assessing Officer for unexplained credits in bank accounts. The Tribunal found that the Assessing Officer did not properly verify the facts and that the deposits were explained through the peak credits theory. The Tribunal dismissed the revenue's appeal, emphasizing the need for meticulous fact-checking and adherence to legal provisions in tax assessments. en-us Fri, 10 Jun 2011 00:00:00 +0530 Mon, 22 Aug 2016 11:45:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185620 The Appellate Tribunal upheld the CIT(Appeals)' decision to delete an addition of Rs. 18,33,676 made by the Assessing Officer for unexplained credits in bank accounts. The Tribunal found that the Assessing Officer did not properly verify the facts and that the deposits were explained through the peak credits theory. The Tribunal dismissed the revenue's appeal, emphasizing the need for meticulous fact-checking and adherence to legal provisions in tax assessments. Case-Laws Income Tax Fri, 10 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185620