https://www.taxtmi.com/caselaws?id=304464 The case involved an appeal by the Revenue against the CIT(A)-IV, Surat's order regarding the addition of Rs. 11,89,200 as unexplained investment in an undisclosed bank account. The CIT(A) restricted the addition to Rs. 85,000, considering the peak balance and additional capital requirement for carrying on the undisclosed business. The Tribunal upheld the CIT(A)'s decision, emphasizing the significance of substantiating cash transactions and applying the peak theory for income calculation in tax assessments. en-us Wed, 09 Dec 2015 00:00:00 +0530 Wed, 28 Sep 2022 08:01:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304464 The case involved an appeal by the Revenue against the CIT(A)-IV, Surat's order regarding the addition of Rs. 11,89,200 as unexplained investment in an undisclosed bank account. The CIT(A) restricted the addition to Rs. 85,000, considering the peak balance and additional capital requirement for carrying on the undisclosed business. The Tribunal upheld the CIT(A)'s decision, emphasizing the significance of substantiating cash transactions and applying the peak theory for income calculation in tax assessments. Case-Laws Income Tax Wed, 09 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304464