https://www.taxtmi.com/caselaws?id=787929 Reassessment initiation was held valid where search-derived material and requisite approvals were on record, applying coordinate-bench precedent; notices under reassessment procedure were sustained. Taxation was confined to the profit element of alleged unaccounted "on money," with the applicable profit rate reduced based on project-specific seized data and binding precedents, resulting in partial relief to the taxpayer. The timing of taxation follows the year of recognition-receipt on execution of the sale deed-not the earlier receipt date for developers following project completion accounting; ICDS-III was held inapplicable here. Telescoping relief was available, so additions treated as unexplained expenses were deleted accordingly. en-us Mon, 23 Feb 2026 00:00:00 +0530 Sat, 14 Mar 2026 08:36:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787929 Reassessment initiation was held valid where search-derived material and requisite approvals were on record, applying coordinate-bench precedent; notices under reassessment procedure were sustained. Taxation was confined to the profit element of alleged unaccounted "on money," with the applicable profit rate reduced based on project-specific seized data and binding precedents, resulting in partial relief to the taxpayer. The timing of taxation follows the year of recognition-receipt on execution of the sale deed-not the earlier receipt date for developers following project completion accounting; ICDS-III was held inapplicable here. Telescoping relief was available, so additions treated as unexplained expenses were deleted accordingly. Case-Laws Income Tax Mon, 23 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787929