This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Peak Credit Computation- Both deposits & withdrawal needs to be considered
Case Law Details
- Case Name
- Shri B.A.Moideen Bava Vs DCIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2004-05
- Courts
- All ITAT, ITAT Bangalore
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Shri B.A.Moideen Bava Vs DCIT (ITAT Bangalore)
The issue raised by assessee is on merits is regarding peak credits in unaccounted bank accounts of assessee’s.
It has been submitted that peak credit has to be computed on the basis of actual deposits and withdrawal and not on the basis of cash deposit alone. Accordingly, we set aside the issue back to Ld. AO for re-computing peak credit, taking into account both deposits as well as withdrawal during relevant period for assessment years under consideration in case of both assessee is before us.
FULL TEXT OF THE ITAT JUDGEMENT
Present appeals ha...
