https://www.taxtmi.com/caselaws?id=470599 Appellate powers to order de novo assessment are examined where legal additional grounds were admitted, a remand report obtained, and no further evidence was needed; the notes state that the issues should instead be decided at the appellate stage. They also explain that commission income already included in the profit and loss account cannot be separately added after business income is estimated using a gross-profit rate. Partners' explained capital contributions should be examined in their individual assessments rather than treated as unexplained credits of the firm. For unsecured loans, confirmations, tax identifiers, bank extracts and tax returns support the creditors' identity and financial material; only two creditors lacking substantiation remain liable to addition. en-us Mon, 24 Mar 2025 00:00:00 +0530 Fri, 31 Jul 2026 19:03:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470599 Appellate powers to order de novo assessment are examined where legal additional grounds were admitted, a remand report obtained, and no further evidence was needed; the notes state that the issues should instead be decided at the appellate stage. They also explain that commission income already included in the profit and loss account cannot be separately added after business income is estimated using a gross-profit rate. Partners' explained capital contributions should be examined in their individual assessments rather than treated as unexplained credits of the firm. For unsecured loans, confirmations, tax identifiers, bank extracts and tax returns support the creditors' identity and financial material; only two creditors lacking substantiation remain liable to addition. Case-Laws Income Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470599