https://www.taxtmi.com/caselaws?id=792832 Reassessment was initiated on tangible department information about property transactions, cash deposits and non-filing of return, and the reopening was sustained. For liabilities linked to land business and related credits, full addition was not upheld because the receipts were business-linked but incompletely vouched; only the profit element embedded in the disputed turnover was estimated at 15%. Opening capital was accepted as explained by Income Declaration Scheme declarations and past income, LIC premium evidence supported the section 80C deduction, and receipts already reflected in turnover or received in a representative capacity were not taxed again. en-us Fri, 15 May 2026 00:00:00 +0530 Thu, 04 Jun 2026 08:37:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792832 Reassessment was initiated on tangible department information about property transactions, cash deposits and non-filing of return, and the reopening was sustained. For liabilities linked to land business and related credits, full addition was not upheld because the receipts were business-linked but incompletely vouched; only the profit element embedded in the disputed turnover was estimated at 15%. Opening capital was accepted as explained by Income Declaration Scheme declarations and past income, LIC premium evidence supported the section 80C deduction, and receipts already reflected in turnover or received in a representative capacity were not taxed again. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792832