Undisclosed investment element in undisclosed purchases upheld. Peak credit rejected
January 22, 2017
Income Tax, ITAT, Judgments
Element of undisclosed investment in undisclosed purchases upheld. Peak credit of purchases rejected. AO to work out number of fund rotations required for achieving undisclosed purchases -ITATÂ ABCAUS Case Law Citation:ABCAUS 1107 (2017) (01) ITAT Assessment Year : 2010-11 The Issue for determination:The issue before the ITAT was …