https://www.taxtmi.com/caselaws?id=471455 Reassessment after processing under section 143(1) remains permissible where tangible material gives the Assessing Officer reason to believe that income escaped assessment, because such processing involves no scrutiny assessment or prior opinion. Information on cash deposits preceding unsecured loans provided a sufficient basis for reopening; conclusive proof of escapement was unnecessary at the notice stage. Cash-credit additions require examination of identity, creditworthiness and transaction genuineness, and were restored for fresh adjudication with a reasonable opportunity to produce evidence. The long-term capital-gain addition and denial of exemption remained sustained because the records did not substantiate the claimed valuation. en-us Fri, 04 Apr 2025 00:00:00 +0530 Thu, 03 Sep 2026 13:57:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471455 Reassessment after processing under section 143(1) remains permissible where tangible material gives the Assessing Officer reason to believe that income escaped assessment, because such processing involves no scrutiny assessment or prior opinion. Information on cash deposits preceding unsecured loans provided a sufficient basis for reopening; conclusive proof of escapement was unnecessary at the notice stage. Cash-credit additions require examination of identity, creditworthiness and transaction genuineness, and were restored for fresh adjudication with a reasonable opportunity to produce evidence. The long-term capital-gain addition and denial of exemption remained sustained because the records did not substantiate the claimed valuation. Case-Laws Income Tax Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471455