https://www.taxtmi.com/caselaws?id=797094 Reassessment following a scrutiny assessment was invalid where the deduction claim, partners' capital details and gold purchases from a sister concern had been fully disclosed and were available during the original assessment. The gold-pricing issue had already been examined, while the explanation regarding fineness and the alleged notional price difference was not addressed in rejecting objections. The interest-based allegation also lacked foundation because an amended partnership deed had rendered the interest clause inoperative, leaving no contractual obligation to pay interest or basis for profit adjustment. Audit objections materially influenced reopening despite prior acceptance of the pricing explanation. en-us Wed, 05 Aug 2026 00:00:00 +0530 Mon, 17 Aug 2026 08:38:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797094 Reassessment following a scrutiny assessment was invalid where the deduction claim, partners' capital details and gold purchases from a sister concern had been fully disclosed and were available during the original assessment. The gold-pricing issue had already been examined, while the explanation regarding fineness and the alleged notional price difference was not addressed in rejecting objections. The interest-based allegation also lacked foundation because an amended partnership deed had rendered the interest clause inoperative, leaving no contractual obligation to pay interest or basis for profit adjustment. Audit objections materially influenced reopening despite prior acceptance of the pricing explanation. Case-Laws Income Tax Wed, 05 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797094