ITAT Indore upheld the peak credit & telescoping theory
ITAT Indore Bench has recently delivered an important judgment with regard to unexplained cash deposit in bank account.
ITAT Indore upheld the peak credit /telescoping theory and added only peak credit which is result of deposit and withdrawal.
This judgement may be useful especially for all other assessee with high cash deposit and withdrawals.
The copy of the order is as under:
