https://www.taxtmi.com/caselaws?id=471392 Reassessment based merely on Investigation Wing information and unverified third-party statements lacks the required independent application of mind; after four years, it additionally requires a demonstrated failure of full and true disclosure. Documentary evidence establishing identity, creditworthiness and genuineness of share capital and loans shifts the burden to the Revenue, so unrebutted credits cannot be treated as unexplained and related interest cannot be disallowed. Reduction of previously recognised but unrealised revenue does not itself establish suppression; however, treatment as bad debt requires verification against statutory conditions. The reassessment and cash-credit additions were quashed, while the bad-debt claim required reconsideration. en-us Fri, 04 Apr 2025 00:00:00 +0530 Tue, 01 Sep 2026 19:02:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471392 Reassessment based merely on Investigation Wing information and unverified third-party statements lacks the required independent application of mind; after four years, it additionally requires a demonstrated failure of full and true disclosure. Documentary evidence establishing identity, creditworthiness and genuineness of share capital and loans shifts the burden to the Revenue, so unrebutted credits cannot be treated as unexplained and related interest cannot be disallowed. Reduction of previously recognised but unrealised revenue does not itself establish suppression; however, treatment as bad debt requires verification against statutory conditions. The reassessment and cash-credit additions were quashed, while the bad-debt claim required reconsideration. Case-Laws Income Tax Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471392