https://www.taxtmi.com/caselaws?id=331573 The High Court upheld the Tribunal's decision to treat undisclosed cash deposits in bank accounts as unexplained income from undisclosed sources. The court rejected the application of the peak credit principle due to lack of credible evidence and inconsistent explanations by the assessee. The tax appeal was dismissed. en-us Tue, 28 Jun 2016 00:00:00 +0530 Sat, 27 Aug 2016 12:31:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331573 The High Court upheld the Tribunal's decision to treat undisclosed cash deposits in bank accounts as unexplained income from undisclosed sources. The court rejected the application of the peak credit principle due to lack of credible evidence and inconsistent explanations by the assessee. The tax appeal was dismissed. Case-Laws Income Tax Tue, 28 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331573