https://www.taxtmi.com/caselaws?id=177215 A reassessment challenge cannot be re-agitated in a later round of the same appeal where it was already decided earlier, and an unsupported jurisdictional plea under section 127 will not be entertained. On the unsecured loan issue, the assessee must prove the identity, creditworthiness and genuineness of creditors and transactions with cogent evidence; confirmation letters alone, without bank statements or creditor production, are insufficient. On that basis, the section 68 additions were substantially sustained and the related interest disallowance was also sustained, with only limited relief for one assessment year where some loans were treated as genuine. en-us Fri, 15 Jun 2012 00:00:00 +0530 Tue, 05 Jan 2016 15:10:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177215 A reassessment challenge cannot be re-agitated in a later round of the same appeal where it was already decided earlier, and an unsupported jurisdictional plea under section 127 will not be entertained. On the unsecured loan issue, the assessee must prove the identity, creditworthiness and genuineness of creditors and transactions with cogent evidence; confirmation letters alone, without bank statements or creditor production, are insufficient. On that basis, the section 68 additions were substantially sustained and the related interest disallowance was also sustained, with only limited relief for one assessment year where some loans were treated as genuine. Case-Laws Income Tax Fri, 15 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177215