https://www.taxtmi.com/caselaws?id=389094 The tribunal allowed the appeal of the assessee for statistical purposes, directing the AO to assess 1/3rd of the peak credit balance in the hands of the assessee for the assessment year 2008-09. The tribunal disagreed with the Ld CIT(A)'s reasoning on certain withdrawals, finding them relevant to the peak credit balance. The issue was restored to the AO for verification of peak credit workings, with the final decision pronounced on 27th November 2019. en-us Wed, 27 Nov 2019 00:00:00 +0530 Sat, 30 Nov 2019 12:51:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389094 The tribunal allowed the appeal of the assessee for statistical purposes, directing the AO to assess 1/3rd of the peak credit balance in the hands of the assessee for the assessment year 2008-09. The tribunal disagreed with the Ld CIT(A)'s reasoning on certain withdrawals, finding them relevant to the peak credit balance. The issue was restored to the AO for verification of peak credit workings, with the final decision pronounced on 27th November 2019. Case-Laws Income Tax Wed, 27 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389094