Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Reassessment founded on additions and disallowances in later assessment years lacks a subsisting basis where appellate orders for those years delete or decide in the assessee's favour every issue relied upon for reopening. Although later assessment orders may initially constitute material for reopening, the reasons to believe that income escaped assessment cease once their foundation is removed. The reassessment notice and rejection of objections were quashed, while other challenges remained open and proceedings could revive if the Revenue succeeds in pending appeals on a foundational issue.
Reassessment founded on additions and disallowances in later assessment years lacks a subsisting basis where appellate orders for those years delete or decide in the assessee's favour every issue relied upon for reopening. Although later assessment orders may initially constitute material for reopening, the reasons to believe that income escaped assessment cease once their foundation is removed. The reassessment notice and rejection of objections were quashed, while other challenges remained open and proceedings could revive if the Revenue succeeds in pending appeals on a foundational issue.
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