Renukaben Umedsinh Parmar (Smt.) v. ITO (2021) 191 ITD 672 / 87 ITR 707 (Surat)(Trib.)

S. 68 : Cash credits-Bank account-Cash flow statement-Unexplained income-Peak credit-Directed to grant peak credit.

Tribunal held that  assessee  filed copies of ownership of land holdings of about fifty bigha of land.  No adverse evidence was acquired by Assessing Officer except assuming and presuming deposit in bank account as unexplained income. Tribunal restored the matter to the Assessing Officer  to grant benefit of peak credit and grant appropriate relief. (AY. 2011-12)