TaxTMI 
TaxTMI 
2014 (5) TMI 1101
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....RESIDENT: This appeal by the assessee for the assessment year 2007-2008 is directed against the order of the CIT(A)- II, Surat dated 27.1.2011. 2. The only effective ground of the appeal of the assessee is ground no.1, which is reproduced hereunder: "1. The ld.CIT(A) has erred in confirming the addition of Rs. 34,28,000/- made by AO." 3. The learned counsel for the assessee submitted t....
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....n be added as income in the hands of the assessee. He has submitted a copy of the said SB account before the Tribunal. 4. The learned DR has opposed the submissions of the learned counsel for the assessee. He submitted that the assessee could not prove by leading evidence to the effect that the credit entries were out of the withdrawals made in the said undisclosed bank account of the assessee. H....
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....d to the department and the peak amount is addable as income in the hands of the assessee, the plea of the Revenue that the assessee should prove the co-relation between the credit and debit entries in the said bank account, is not sustainable. In the facts and circumstances of the case, and in accordance with the settled law, we direct the AO to determine the peak amount in the said SB Account No....