https://www.taxtmi.com/caselaws?id=795700 Reassessment limitation is assessed on the information available when proceedings are initiated; information indicating unreported salary income and immovable-property investment supported escaped income exceeding the applicable threshold, and prior approval was obtained. The reassessment notice was therefore valid. The unexplained-investment addition was deleted because the accepted housing loan and bank records established that the remaining property consideration came from personal savings. The HRA disallowance was also deleted because salary records, rent evidence and computation substantiated the claim under the prescribed least-of-three formula. The reassessment challenge failed, but the property-investment and HRA additions were removed. en-us Tue, 21 Jul 2026 00:00:00 +0530 Sat, 25 Jul 2026 08:54:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795700 Reassessment limitation is assessed on the information available when proceedings are initiated; information indicating unreported salary income and immovable-property investment supported escaped income exceeding the applicable threshold, and prior approval was obtained. The reassessment notice was therefore valid. The unexplained-investment addition was deleted because the accepted housing loan and bank records established that the remaining property consideration came from personal savings. The HRA disallowance was also deleted because salary records, rent evidence and computation substantiated the claim under the prescribed least-of-three formula. The reassessment challenge failed, but the property-investment and HRA additions were removed. Case-Laws Income Tax Tue, 21 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795700