https://www.taxtmi.com/caselaws?id=188190 The Tribunal upheld the CIT(A)'s decision to partially delete the addition of unexplained cash credits under section 68 of the I.T. Act for the assessment year 2007-08. The CIT(A) applied the peak credit method, restricting the addition to a certain amount. Despite the Department's argument against the method's applicability based on bank transactions, the Tribunal found the CIT(A)'s order justified. The decision confirmed the partial deletion of the addition, dismissing the Department's appeal. en-us Fri, 10 Jun 2011 00:00:00 +0530 Mon, 21 Nov 2016 16:21:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188190 The Tribunal upheld the CIT(A)'s decision to partially delete the addition of unexplained cash credits under section 68 of the I.T. Act for the assessment year 2007-08. The CIT(A) applied the peak credit method, restricting the addition to a certain amount. Despite the Department's argument against the method's applicability based on bank transactions, the Tribunal found the CIT(A)'s order justified. The decision confirmed the partial deletion of the addition, dismissing the Department's appeal. Case-Laws Income Tax Fri, 10 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188190