https://www.taxtmi.com/caselaws?id=470485 Assessment limitation depends on completion of the assessment and determination of tax liability within the statutory period; subsequent dispatch or service does not invalidate a timely order. For unsecured loan credits, prior-year credits cannot be added in the relevant year, but PAN, return and confirmation alone do not establish identity, genuineness and creditworthiness for current-year credits; unverified lender evidence requires further enquiry and fresh adjudication. For valuation of transferred land, its legal character at the transfer date governs. Land remaining agricultural in revenue records and not converted by a competent authority cannot be valued using residential circle rates despite surrounding development or lack of cultivation. en-us Mon, 21 Jul 2025 00:00:00 +0530 Tue, 28 Jul 2026 19:00:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470485 Assessment limitation depends on completion of the assessment and determination of tax liability within the statutory period; subsequent dispatch or service does not invalidate a timely order. For unsecured loan credits, prior-year credits cannot be added in the relevant year, but PAN, return and confirmation alone do not establish identity, genuineness and creditworthiness for current-year credits; unverified lender evidence requires further enquiry and fresh adjudication. For valuation of transferred land, its legal character at the transfer date governs. Land remaining agricultural in revenue records and not converted by a competent authority cannot be valued using residential circle rates despite surrounding development or lack of cultivation. Case-Laws Income Tax Mon, 21 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470485