https://www.taxtmi.com/caselaws?id=303386 The Revenue appealed against the CIT(A)'s decision to reduce the addition of undisclosed income made by the AO. The Tribunal held that the onus was on the assessee to prove the source of deposits, and only the peak credit in the bank account could be treated as income. The order of the CIT(A) was set aside, and the AO was directed to calculate the peak credit for the addition. As a result, the appeal was partly allowed by the Tribunal. en-us Fri, 28 Aug 2009 00:00:00 +0530 Tue, 19 Jul 2022 17:04:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303386 The Revenue appealed against the CIT(A)'s decision to reduce the addition of undisclosed income made by the AO. The Tribunal held that the onus was on the assessee to prove the source of deposits, and only the peak credit in the bank account could be treated as income. The order of the CIT(A) was set aside, and the AO was directed to calculate the peak credit for the addition. As a result, the appeal was partly allowed by the Tribunal. Case-Laws Income Tax Fri, 28 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303386