https://www.taxtmi.com/caselaws?id=784858 Dispute concerns additions treating unsecured loans as unexplained credits and deemed income; tribunal reasoned that the law of limitation bars remedy but does not extinguish debt, and prior departmental acceptance of loan balances undermines assumption of waiver, resulting in rejection of the addition. The tribunal held that amalgamation of lender entities does not ipso facto extinguish liabilities in the borrowers books, and that invocation of deemed income for receipt of a benefit is unsustainable absent specific lender acknowledgment of waiver; therefore treating time-barred or amalgamated loan balances as taxable benefit on mere presumption was inappropriate. en-us Fri, 09 Jan 2026 00:00:00 +0530 Tue, 13 Jan 2026 08:29:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784858 Dispute concerns additions treating unsecured loans as unexplained credits and deemed income; tribunal reasoned that the law of limitation bars remedy but does not extinguish debt, and prior departmental acceptance of loan balances undermines assumption of waiver, resulting in rejection of the addition. The tribunal held that amalgamation of lender entities does not ipso facto extinguish liabilities in the borrowers books, and that invocation of deemed income for receipt of a benefit is unsustainable absent specific lender acknowledgment of waiver; therefore treating time-barred or amalgamated loan balances as taxable benefit on mere presumption was inappropriate. Case-Laws Income Tax Fri, 09 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784858