Tribunal held that since the assessee was unable to explain the source of deposits or furnish details regarding the corresponding disbursements, he was not entitled to get the benefit of peak credit. (AY. 2011-12).
Varun Gupta v. ITO (2020) 83 ITR 82 (SN) (Delhi)(Trib.)
S. 68 : Cash credit-Cash deposited in bank account-Peak credit-Failure to decide the source of deposit and purpose of withdrawal-Not entitle to benefit of peak credit.