https://www.taxtmi.com/caselaws?id=338799 The Tribunal partially allowed the appeal, deleting the addition of Rs. 47,10,000 claimed by the assessee and sustaining the remaining Rs. 18,36,664. The Tribunal emphasized the peak credit theory and the requirement of a clear link between surrendered income and subsequent cash deposits. The decision highlighted that the surrendered amount from a previous assessment year was available as cash for deposits in the current year, contrary to the findings of the lower authorities. en-us Wed, 08 Feb 2017 00:00:00 +0530 Sat, 11 Feb 2017 10:45:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338799 The Tribunal partially allowed the appeal, deleting the addition of Rs. 47,10,000 claimed by the assessee and sustaining the remaining Rs. 18,36,664. The Tribunal emphasized the peak credit theory and the requirement of a clear link between surrendered income and subsequent cash deposits. The decision highlighted that the surrendered amount from a previous assessment year was available as cash for deposits in the current year, contrary to the findings of the lower authorities. Case-Laws Income Tax Wed, 08 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338799