https://www.taxtmi.com/caselaws?id=192597 The Revenue challenged the ITAT order confirming the deletion of an addition made by the Assessing Officer on account of peak working. The CIT(A) directed the Assessing Officer to examine bank transactions, leading to a reduced income assessment. The CIT(A) accepted the peak credit calculated by the assessee's power of attorney. The Tribunal upheld this decision, noting the Assessing Officer's failure to provide comments on the peak credit calculation. The Court dismissed the appeal, upholding the tax assessment based on the peak credit calculation due to the absence of identified infirmities. en-us Tue, 02 Aug 2011 00:00:00 +0530 Wed, 07 Jun 2017 14:37:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192597 The Revenue challenged the ITAT order confirming the deletion of an addition made by the Assessing Officer on account of peak working. The CIT(A) directed the Assessing Officer to examine bank transactions, leading to a reduced income assessment. The CIT(A) accepted the peak credit calculated by the assessee's power of attorney. The Tribunal upheld this decision, noting the Assessing Officer's failure to provide comments on the peak credit calculation. The Court dismissed the appeal, upholding the tax assessment based on the peak credit calculation due to the absence of identified infirmities. Case-Laws Income Tax Tue, 02 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192597