https://www.taxtmi.com/caselaws?id=253991 Credible third-party material indicating that an assessee was a beneficiary of an offshore trust can justify reassessment where the reasons recorded are furnished, translated documents are supplied, and adequate opportunities are given; on those facts, a procedural challenge for breach of natural justice fails. The trust account records, foreign-investigation material, and surrounding documents may also establish beneficial ownership and nondisclosure, so the trust balance and related income can be treated as unexplained and taxable in the assessee's hands even if no amount was directly credited in the assessee's name. On this reasoning, the reopening is upheld and the addition is sustained. en-us Fri, 31 Oct 2014 00:00:00 +0530 Wed, 10 Dec 2014 08:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253991 Credible third-party material indicating that an assessee was a beneficiary of an offshore trust can justify reassessment where the reasons recorded are furnished, translated documents are supplied, and adequate opportunities are given; on those facts, a procedural challenge for breach of natural justice fails. The trust account records, foreign-investigation material, and surrounding documents may also establish beneficial ownership and nondisclosure, so the trust balance and related income can be treated as unexplained and taxable in the assessee's hands even if no amount was directly credited in the assessee's name. On this reasoning, the reopening is upheld and the addition is sustained. Case-Laws Income Tax Fri, 31 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253991