https://www.taxtmi.com/caselaws?id=16886 Reopening of an amnesty-covered assessment year was held unsustainable absent a positive finding that the earlier disclosure or asset valuation was incorrect. Additions based on a higher PWD valuation and an uncorroborated loose slip were deleted because the material was unreliable. Sale proceeds, loans, and jewellery receipts were not treated as unexplained income where supporting records and verification existed, and section 54F benefit was not denied on the facts. The three FDRs were held to belong to Shri Jayanti Lal Patel, as benami ownership was not proved. Mala fides in the assessment orders justified writ relief despite the alternate remedy. en-us Wed, 01 Oct 1997 00:00:00 +0530 Wed, 25 Dec 2019 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16886 Reopening of an amnesty-covered assessment year was held unsustainable absent a positive finding that the earlier disclosure or asset valuation was incorrect. Additions based on a higher PWD valuation and an uncorroborated loose slip were deleted because the material was unreliable. Sale proceeds, loans, and jewellery receipts were not treated as unexplained income where supporting records and verification existed, and section 54F benefit was not denied on the facts. The three FDRs were held to belong to Shri Jayanti Lal Patel, as benami ownership was not proved. Mala fides in the assessment orders justified writ relief despite the alternate remedy. Case-Laws Benami Property Wed, 01 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16886