https://www.taxtmi.com/caselaws?id=469451 Reassessment based on an alleged mismatch between advance paid for land and work-in-progress was not sustainable where the audited books separately disclosed both items and they reflected distinct accounting entries. The recorded reasons relied on a mistaken comparison of figures that were not inter-related, and the relevant facts had already been fully disclosed, leaving no valid basis to infer escapement of income. On that footing, the reassessment lacked jurisdictional support. Because the reassessment itself failed, the related addition under section 69 could not survive and was also unsustainable. en-us Fri, 07 Mar 2025 00:00:00 +0530 Wed, 17 Jun 2026 19:02:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469451 Reassessment based on an alleged mismatch between advance paid for land and work-in-progress was not sustainable where the audited books separately disclosed both items and they reflected distinct accounting entries. The recorded reasons relied on a mistaken comparison of figures that were not inter-related, and the relevant facts had already been fully disclosed, leaving no valid basis to infer escapement of income. On that footing, the reassessment lacked jurisdictional support. Because the reassessment itself failed, the related addition under section 69 could not survive and was also unsustainable. Case-Laws Income Tax Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469451