https://www.taxtmi.com/caselaws?id=284828 The Tribunal directed the AO to delete the addition of Rs. 3,81,383 on account of gross profit in the individual's hands and take necessary action in the firm's hands. Additionally, the peak credit addition was restricted to Rs. 10,60,742 instead of the total amount of Rs. 18,02,087. The bank account was deemed to belong to a partnership firm based on the partnership deed's clauses. As a result, the appeal of the assessee was allowed, and the order was pronounced in favor of the assessee on 13th Feb., 2014. en-us Thu, 13 Feb 2014 00:00:00 +0530 Thu, 12 Dec 2019 16:50:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284828 The Tribunal directed the AO to delete the addition of Rs. 3,81,383 on account of gross profit in the individual's hands and take necessary action in the firm's hands. Additionally, the peak credit addition was restricted to Rs. 10,60,742 instead of the total amount of Rs. 18,02,087. The bank account was deemed to belong to a partnership firm based on the partnership deed's clauses. As a result, the appeal of the assessee was allowed, and the order was pronounced in favor of the assessee on 13th Feb., 2014. Case-Laws Income Tax Thu, 13 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284828