https://www.taxtmi.com/caselaws?id=187004 The revenue's appeal against the CIT(A) order deleting the addition of Rs. 16,26,468 as unexplained cash deposit in an undisclosed bank account was dismissed. The CIT(A) restricted the peak addition to Rs. 1,95,597 after considering the documents submitted by the assessee and the remand report from the Assessing Officer. The Tribunal upheld the CIT(A) decision, emphasizing the necessity of explaining cash deposits in bank accounts and applying the peak credit theory to determine unexplained income. en-us Thu, 26 Apr 2012 00:00:00 +0530 Thu, 06 Oct 2016 13:28:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187004 The revenue's appeal against the CIT(A) order deleting the addition of Rs. 16,26,468 as unexplained cash deposit in an undisclosed bank account was dismissed. The CIT(A) restricted the peak addition to Rs. 1,95,597 after considering the documents submitted by the assessee and the remand report from the Assessing Officer. The Tribunal upheld the CIT(A) decision, emphasizing the necessity of explaining cash deposits in bank accounts and applying the peak credit theory to determine unexplained income. Case-Laws Income Tax Thu, 26 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187004