This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
ITAT Indore Accepts Peak Credit Theory; Past savings can explain cash deposits
Case Law Details
- Case Name
- Kamal Chand Sisodiya Vs ITO (ITAT Indore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Indore
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Kamal Chand Sisodiya Vs ITO (ITAT Indore)
In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Indore addressed the appeal of Kamal Chand Sisodiya against the Income Tax Officer (ITO) regarding the assessment year 2011-12. The Tribunal accepted the peak credit theory, confirming that past savings of a government employee should not be disbelieved and could serve as a valid source for subsequent bank deposits.
Background of the Case
The dispute arose from an assessment order dated December 13, 2018, issued under sections 144 and 147 of the Income Tax Act, 1961. The ITO ...
Author Info
