https://www.taxtmi.com/caselaws?id=776985 ITAT, Delhi (AT) restored the matter to the AO to verify the assessee's peak-credit workings for bank cash deposits and bearer-cheque withdrawals, holding the peak-credit theory as the appropriate method to determine any peak negative cash balance arising from fund rotation. The tribunal directed the AO to consider only cash and bearer-cheque transactions, set off any peak negative cash balance against admitted agricultural income, and assess any remaining amount as unexplained money under s.69A. The assessee's grounds on this issue were allowed for statistical purposes. en-us Thu, 15 May 2025 00:00:00 +0530 Fri, 22 Aug 2025 08:33:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776985 ITAT, Delhi (AT) restored the matter to the AO to verify the assessee's peak-credit workings for bank cash deposits and bearer-cheque withdrawals, holding the peak-credit theory as the appropriate method to determine any peak negative cash balance arising from fund rotation. The tribunal directed the AO to consider only cash and bearer-cheque transactions, set off any peak negative cash balance against admitted agricultural income, and assess any remaining amount as unexplained money under s.69A. The assessee's grounds on this issue were allowed for statistical purposes. Case-Laws Income Tax Thu, 15 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776985