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TMI Blog2022 (10) TMI 253X X X X Extracts X X X X X X X X Extracts X X X X ..... ly the peak credit which can be charged to tax and not all the deposit entries in the bank account. As such, I set aside the impugned order and remit the matter to the file of the AO for determining the peak credit out of such transactions and make addition for the same in addition to the interest income credited by the bank separately as recorded in the bank statement. Addition towards purchase of plot - AR contended that the purchase of plot should be considered as sourced from the bank withdrawals for which separate addition was made by the AO - HELD THAT:- While disposing of the first issue supra as directed that only the peak credit of the cash deposits and withdrawals should be included in the total income and not all the deposit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the assessee on 09-01-2007. During the course of survey, certain documents relating to the properties/investments were found. Notice u/s.148 was issued, pursuant to which the assessment was finalised determining total income at Rs.10,33,990/-, which was rectified u/s.154 at the total income at Rs.10,63,990/-. The ld. CIT(A) allowed some relief. When the matter came up before the Tribunal in the first round through cross appeals filed - both by the assessee as well as the Revenue -, the Tribunal, vide its order dated 04-03-2009 in ITA Nos.369 374/Nag 2008 and ITA No.381/Nag/2008, set aside the assessment order and remitted the matter to the file of the AO with a direction to supply to the assessee the Xerox copies of the impounded docume ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mit the matter to the file of the AO for determining the peak credit out of such transactions and make addition for the same in addition to the interest income credited by the bank separately as recorded in the bank statement. 5. The next ground is against the confirmation of addition of Rs.31,990/- towards purchase of plot. The facts anent to this issue are that the assessee purchased a plot of land at Survey No.214/1 from one Mr. Ashok Nanwatkar and spent a total sum of Rs.31,990/- on such purchase. In the absence of the assessee furnishing any source of investment, the AO made addition for the same, which was echoed in the first appeal. 6. I have considered the rival submissions and perused the relevant material on record. The ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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