https://www.taxtmi.com/caselaws?id=389940 The Tribunal partly allowed the appeal related to the additional grounds raised by the assessee challenging the enhancement of cash deposits, restricting the addition to the peak balance of Rs. 1,68,025. Additionally, the Tribunal partly allowed the appeal concerning the proper consideration of peak balance and GP additions in determining undisclosed income, limiting the addition to the peak balance amount. The Tribunal fully allowed the appeal regarding the imposition of penalty under section 271(1)(c) for concealment of income, finding it not sustainable in law and cancelling the penalty. en-us Mon, 09 Dec 2019 00:00:00 +0530 Wed, 18 Dec 2019 16:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389940 The Tribunal partly allowed the appeal related to the additional grounds raised by the assessee challenging the enhancement of cash deposits, restricting the addition to the peak balance of Rs. 1,68,025. Additionally, the Tribunal partly allowed the appeal concerning the proper consideration of peak balance and GP additions in determining undisclosed income, limiting the addition to the peak balance amount. The Tribunal fully allowed the appeal regarding the imposition of penalty under section 271(1)(c) for concealment of income, finding it not sustainable in law and cancelling the penalty. Case-Laws Income Tax Mon, 09 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389940