https://www.taxtmi.com/highlights?id=49836 The peak credit is applied where the assessee can correlate the deposits viz a viz withdrawal from the bank. As the assessee failed to establish the correlation between the deposit of cheques as well as cheques withdrawn from the bank. Therefore we are reluctant to apply the peak credit theory in the given facts and circumstances. en-us Tue, 22 Oct 2019 09:54:25 +0530 Tue, 22 Oct 2019 09:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=49836 The peak credit is applied where the assessee can correlate the deposits viz a viz withdrawal from the bank. As the assessee failed to establish the correlation between the deposit of cheques as well as cheques withdrawn from the bank. Therefore we are reluctant to apply the peak credit theory in the given facts and circumstances. Highlights Income Tax Tue, 22 Oct 2019 09:54:25 +0530 https://www.taxtmi.com/highlights?id=49836