https://www.taxtmi.com/caselaws?id=438515 Assessment reopening premised on alleged unexplained cash credit from a sham lender failed because the lender's identity, genuineness and creditworthiness were established on the facts; consequently the advances could not be treated as unexplained credit and reassessment based on that premise was not supportable, resulting in the disallowance of the revenue's action and relief to the assessee. en-us Tue, 07 Mar 2023 00:00:00 +0530 Sat, 31 Jan 2026 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438515 Assessment reopening premised on alleged unexplained cash credit from a sham lender failed because the lender's identity, genuineness and creditworthiness were established on the facts; consequently the advances could not be treated as unexplained credit and reassessment based on that premise was not supportable, resulting in the disallowance of the revenue's action and relief to the assessee. Case-Laws Income Tax Tue, 07 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438515