https://www.taxtmi.com/caselaws?id=470973 Reassessment after a completed scrutiny assessment cannot rely solely on investigation-wing information or a third-party opinion where the purchases, books and relevant bank account were already examined. Fresh tangible material, independent enquiry and a valid belief that income escaped assessment are required; after four years, reopening also requires failure to make full and true disclosure of material facts. An estimated purchase disallowance as unexplained expenditure requires supporting evidence. Where purchases and corresponding sales are recorded in audited books, sales remain undisputed and the expenditure source is not questioned, an ad hoc addition lacks evidentiary basis. en-us Fri, 28 Mar 2025 00:00:00 +0530 Mon, 17 Aug 2026 08:37:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470973 Reassessment after a completed scrutiny assessment cannot rely solely on investigation-wing information or a third-party opinion where the purchases, books and relevant bank account were already examined. Fresh tangible material, independent enquiry and a valid belief that income escaped assessment are required; after four years, reopening also requires failure to make full and true disclosure of material facts. An estimated purchase disallowance as unexplained expenditure requires supporting evidence. Where purchases and corresponding sales are recorded in audited books, sales remain undisputed and the expenditure source is not questioned, an ad hoc addition lacks evidentiary basis. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470973