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2017 (2) TMI 393 - AT - Income TaxTaxation of entire deposits in the bank - peak surrendered by assessee - Held that:- Admittedly, neither any other source of income has been pointed out by AO nor any investment out of withdrawals from bank has been shown. Under such circumstances, assessee’s explanation that both the bank accounts were in relation to its business, cannot be doubted. In our opinion, the peak surrendered by assessee should have been accepted by lower revenue authorities, in the absence of books of a/c. - Hansraj vs. ITO, Faridabad [2017 (2) TMI 291 - ITAT DELHI] 1702857 - Decided in favour of assessee.
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