https://www.taxtmi.com/caselaws?id=795697 Reassessment after four years may proceed where a limited-scrutiny assessment did not include full and true disclosure supporting a claim that a retired partner's waived capital balance was non-taxable. Recorded reasons must have a live link to a prima facie belief of escaped income, and valid approval supports initiation. Taxability of a waived capital balance requires examination of the account's composition, retirement arrangement, alleged waiver, and inclusion of items such as interest or remuneration. An addition should identify the applicable charging provision and cannot rest on a cryptic factual analysis; supporting evidence should be considered in fresh adjudication. 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=795697 Reassessment after four years may proceed where a limited-scrutiny assessment did not include full and true disclosure supporting a claim that a retired partner's waived capital balance was non-taxable. Recorded reasons must have a live link to a prima facie belief of escaped income, and valid approval supports initiation. Taxability of a waived capital balance requires examination of the account's composition, retirement arrangement, alleged waiver, and inclusion of items such as interest or remuneration. An addition should identify the applicable charging provision and cannot rest on a cryptic factual analysis; supporting evidence should be considered in fresh adjudication. Case-Laws Income Tax Tue, 21 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795697