https://www.taxtmi.com/caselaws?id=338591 The ITAT allowed the assessee's appeal, overturning the addition of unexplained cash deposits and emphasizing the acceptance of the peak credit balance surrendered by the assessee. The judgment highlighted the importance of considering the nature of business activities and the absence of proper accounting records while assessing cash deposits in bank accounts for tax purposes. en-us Wed, 29 Jun 2016 00:00:00 +0530 Wed, 08 Feb 2017 10:23:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338591 The ITAT allowed the assessee's appeal, overturning the addition of unexplained cash deposits and emphasizing the acceptance of the peak credit balance surrendered by the assessee. The judgment highlighted the importance of considering the nature of business activities and the absence of proper accounting records while assessing cash deposits in bank accounts for tax purposes. Case-Laws Income Tax Wed, 29 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338591