https://www.taxtmi.com/caselaws?id=785714 Validity of reopening was decided on limitation grounds: notice for reopening was timebarred, so the reassessment was quashed and the impugned assessment annulled. On unaccounted onmoney receipts, the profit element was estimated by appellate authority at 17% of receipts and the benefit of telescoping declared income under IDS2016 was allowed, reducing taxable addition. For unsecured loans and related interest, the assessee proved identity, creditworthiness and repayment transactions; sourceofsource proof was not required and no cashcredit addition was made. Revenue appeals were dismissed. en-us Thu, 01 Jan 2026 00:00:00 +0530 Wed, 04 Feb 2026 11:43:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785714 Validity of reopening was decided on limitation grounds: notice for reopening was timebarred, so the reassessment was quashed and the impugned assessment annulled. On unaccounted onmoney receipts, the profit element was estimated by appellate authority at 17% of receipts and the benefit of telescoping declared income under IDS2016 was allowed, reducing taxable addition. For unsecured loans and related interest, the assessee proved identity, creditworthiness and repayment transactions; sourceofsource proof was not required and no cashcredit addition was made. Revenue appeals were dismissed. Case-Laws Income Tax Thu, 01 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785714