https://www.taxtmi.com/caselaws?id=395833 The Tribunal partially allowed the appeal, restricting the addition to the peak credit amount of Rs. 13,06,500 for the assessment year 2015-16. The Tribunal emphasized the significance of substantiated claims and distinguished cases to accurately determine undisclosed income, recognizing legitimate business transactions and the application of the peak credit theory to prevent double taxation in cases of regular deposits and withdrawals. en-us Mon, 08 Jun 2020 00:00:00 +0530 Wed, 10 Jun 2020 09:55:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395833 The Tribunal partially allowed the appeal, restricting the addition to the peak credit amount of Rs. 13,06,500 for the assessment year 2015-16. The Tribunal emphasized the significance of substantiated claims and distinguished cases to accurately determine undisclosed income, recognizing legitimate business transactions and the application of the peak credit theory to prevent double taxation in cases of regular deposits and withdrawals. Case-Laws Income Tax Mon, 08 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395833