https://www.taxtmi.com/caselaws?id=287358 The Tribunal partially allowed the appeal against the order of the CIT(A) for the Assessment Year 2009-2010. It was determined that only the verified peak amount of Rs. 2,97,297 should be added as income in the undisclosed bank account, rather than the entire sum of Rs. 26,77,745. The Tribunal disagreed with the Revenue's requirement for a direct nexus between the bank account entries and instructed the AO to verify and add the correct peak amount as income, remanding the issue for further assessment. en-us Fri, 12 Dec 2014 00:00:00 +0530 Sat, 11 Apr 2020 10:48:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287358 The Tribunal partially allowed the appeal against the order of the CIT(A) for the Assessment Year 2009-2010. It was determined that only the verified peak amount of Rs. 2,97,297 should be added as income in the undisclosed bank account, rather than the entire sum of Rs. 26,77,745. The Tribunal disagreed with the Revenue's requirement for a direct nexus between the bank account entries and instructed the AO to verify and add the correct peak amount as income, remanding the issue for further assessment. Case-Laws Income Tax Fri, 12 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287358