https://www.taxtmi.com/caselaws?id=799213 Reassessment jurisdiction requires tangible material with a live nexus to income that escaped assessment in the relevant assessment year. A loan received in a preceding year could not justify reopening for a year involving only repayments, so the reopening lacked jurisdiction. Loan receipts, repayments and interest payments routed through banking channels and recorded in books and returns could not be treated as unexplained money absent corroborative material that the loan was fictitious or represented undisclosed funds. The deletion of the addition was sustained. en-us Mon, 24 Aug 2026 00:00:00 +0530 Fri, 18 Sep 2026 07:32:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799213 Reassessment jurisdiction requires tangible material with a live nexus to income that escaped assessment in the relevant assessment year. A loan received in a preceding year could not justify reopening for a year involving only repayments, so the reopening lacked jurisdiction. Loan receipts, repayments and interest payments routed through banking channels and recorded in books and returns could not be treated as unexplained money absent corroborative material that the loan was fictitious or represented undisclosed funds. The deletion of the addition was sustained. Case-Laws Income Tax Mon, 24 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799213