Additions on basis of peak credit justified as assessee didn’t give details of person to whom money distributed

INCOME TAX : Money laundering can be for oneself and there can be no presumption that it is for others, therefore, where various accounts were opened and operated by assessee on behalf of others, since assessee refused to divulge details of persons to whom money was distributed, entire amount in question was to be added to assessee's income on basis of peak credit theory

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000189273/additions-on-basis-of-peak-credit-justified-as-assessee-didn’t-give-details-of-person-to-whom-money-distributed.aspx