https://www.taxtmi.com/caselaws?id=347073 The Tribunal dismissed the appeal, upholding the lower authorities' orders. It found the AO had valid reasons to reopen the assessment, justified the addition of Rs. 5,55,000/- due to unexplained cash deposits, and upheld the peak credit theory application. The appellant's arguments lacked substantial evidence to challenge the AO's decisions, and the Tribunal validated the procedural compliance by the AO and CIT(A). en-us Tue, 08 Aug 2017 00:00:00 +0530 Mon, 28 Aug 2017 11:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347073 The Tribunal dismissed the appeal, upholding the lower authorities' orders. It found the AO had valid reasons to reopen the assessment, justified the addition of Rs. 5,55,000/- due to unexplained cash deposits, and upheld the peak credit theory application. The appellant's arguments lacked substantial evidence to challenge the AO's decisions, and the Tribunal validated the procedural compliance by the AO and CIT(A). Case-Laws Income Tax Tue, 08 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347073