https://www.taxtmi.com/caselaws?id=385576 The case involved an individual assessee disputing unproved liabilities, interest charges under sections 234A, 234B, and 234C of the Income Tax Act, and unexplained cash deposits. The CIT(A) partially allowed relief by upholding some additions, sustaining unproved liabilities to the extent of Rs. 4,00,000 out of Rs. 13,70,330. The Tribunal upheld the charging of interest, directing re-computation if necessary. Regarding unexplained cash deposits, the Tribunal favored the assessee, applying the peak credit method and limiting the addition to Rs. 10,70,000. The decision was based on evidence, legal precedents, and statutory provisions of the Income Tax Act. en-us Wed, 04 Sep 2019 00:00:00 +0530 Mon, 09 Sep 2019 08:12:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385576 The case involved an individual assessee disputing unproved liabilities, interest charges under sections 234A, 234B, and 234C of the Income Tax Act, and unexplained cash deposits. The CIT(A) partially allowed relief by upholding some additions, sustaining unproved liabilities to the extent of Rs. 4,00,000 out of Rs. 13,70,330. The Tribunal upheld the charging of interest, directing re-computation if necessary. Regarding unexplained cash deposits, the Tribunal favored the assessee, applying the peak credit method and limiting the addition to Rs. 10,70,000. The decision was based on evidence, legal precedents, and statutory provisions of the Income Tax Act. Case-Laws Income Tax Wed, 04 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385576