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NewsPolicyRadarFriday, 18 September 2026NEW

Income Tax | ITAT Applies Peak Credit Theory to ₹1.56 Crore Cash Deposits

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Summary
ITAT Ahmedabad applies peak credit theory to ₹1.56 crore cash deposits and allows credit for opening cash, agricultural receipts and disclosed income.
Key Facts
TypeNews
SourcePolicyRadar India
PublishedFriday, 18 September 2026
Affected Population1.4 billion citizens, 63 million MSMEs
Key Numbers
GDP: $3.9 trillion (2025 est.)
Fiscal deficit target: 4.4% of GDP
GST collection: Rs 1.87 lakh crore/month avg
Key Authorities
Ministry of FinanceRBISEBIDEA
Key Stakeholders
TaxpayersBanks & NBFCsInvestors
Government Context
NDA IIIBJP-led NDA
Centre-Right
LeftCentreRight
Explore Sectors
Finance & Economy671 tracked→
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