https://www.taxtmi.com/caselaws?id=788504 Reassessment beyond four years is barred where the recorded reasons do not show any failure by the assessee to fully and truly disclose all material facts necessary for assessment; reopening on the basis of the same material already on record is invalid. Share capital and share premium received from a non-resident company and a SEBI-registered venture capital fund cannot be added under section 68 when the assessee produces evidence establishing identity, creditworthiness and genuineness, and no further source-of-source inquiry is required for such investors in the relevant year. High premium alone does not justify an addition where the surrounding evidence supports the credit. en-us Thu, 19 Feb 2026 00:00:00 +0530 Tue, 24 Mar 2026 08:12:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788504 Reassessment beyond four years is barred where the recorded reasons do not show any failure by the assessee to fully and truly disclose all material facts necessary for assessment; reopening on the basis of the same material already on record is invalid. Share capital and share premium received from a non-resident company and a SEBI-registered venture capital fund cannot be added under section 68 when the assessee produces evidence establishing identity, creditworthiness and genuineness, and no further source-of-source inquiry is required for such investors in the relevant year. High premium alone does not justify an addition where the surrounding evidence supports the credit. Case-Laws Income Tax Thu, 19 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788504