https://www.taxtmi.com/caselaws?id=360394 The Tribunal upheld the CIT(A)'s decision to delete additions for undisclosed income in the assessee's bank accounts for assessment years 2012-13 and 2013-14. The Revenue's appeals were dismissed as they failed to provide evidence challenging the CIT(A)'s findings. The Tribunal agreed with the CIT(A) that the peak credit method used by the Assessing Officer was flawed and not applicable in this case, as the cash deposits were adequately explained by the cash withdrawals in the course of the transport business. en-us Tue, 15 May 2018 00:00:00 +0530 Wed, 16 May 2018 06:45:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360394 The Tribunal upheld the CIT(A)'s decision to delete additions for undisclosed income in the assessee's bank accounts for assessment years 2012-13 and 2013-14. The Revenue's appeals were dismissed as they failed to provide evidence challenging the CIT(A)'s findings. The Tribunal agreed with the CIT(A) that the peak credit method used by the Assessing Officer was flawed and not applicable in this case, as the cash deposits were adequately explained by the cash withdrawals in the course of the transport business. Case-Laws Income Tax Tue, 15 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360394