When cash deposit was fully explained no peak credit addition was required as directed by ITAT while remitting the matter…
Peak credit addition does not include income after peak balance date. ITAT directed addition of further 8% profit after the…
Cash deposits in bank can be explained as out of gross receipts u/s 44AD from contract business. ITAT deleted addition…
Peak of both debit and credit entries of seized papers only can be added as undisclosed income, no justification for…
Peak credit theory not applicable if deposits are unexplained u/s 68. High Court overruled ITAT decision where CA was providing…
In a recent judgment, ITAT, Amritsar has ruled that CIT(A) was right in taking the the highest amount of cash deposits…
Unexplained expendiure addition u/s 69C made for peak negative cash balance without giving benefit of capitalisation of sums disclosed in…