https://www.taxtmi.com/caselaws?id=470831 Reassessment beyond four years after a completed scrutiny assessment requires recorded reasons identifying the assessee's failure to disclose fully and truly all material facts and establishing a live, rational nexus between tangible material and alleged income escapement. General information concerning alleged shell entities, without linking it to the assessee or lender, is insufficient. Unsecured loans supported by account-payee payments, repayment with interest and tax deduction, confirmations, audited accounts, tax returns and bank statements establish creditor identity, creditworthiness and transaction genuineness. On these stated principles, reopening and the related unexplained-loan addition were treated as unsustainable. en-us Wed, 26 Mar 2025 00:00:00 +0530 Mon, 10 Aug 2026 21:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470831 Reassessment beyond four years after a completed scrutiny assessment requires recorded reasons identifying the assessee's failure to disclose fully and truly all material facts and establishing a live, rational nexus between tangible material and alleged income escapement. General information concerning alleged shell entities, without linking it to the assessee or lender, is insufficient. Unsecured loans supported by account-payee payments, repayment with interest and tax deduction, confirmations, audited accounts, tax returns and bank statements establish creditor identity, creditworthiness and transaction genuineness. On these stated principles, reopening and the related unexplained-loan addition were treated as unsustainable. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470831