https://www.taxtmi.com/highlights?id=104729 Reassessment initiated on specific Investigation Wing information about substantial cash deposits was sustained where the Assessing Officer examined the information and formed a belief that income had escaped assessment. Recording cash receipts as sales did not by itself establish that corresponding bank deposits arose from business sales; reliable linkage among the sales, stock movement and deposits was required to rebut an unexplained cash-credit addition. A challenge to mere initiation of penalty proceedings was premature, while interest levied consequentially on the assessment followed the assessment outcome. en-us Fri, 09 Oct 2026 11:10:00 +0530 Fri, 09 Oct 2026 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104729 Reassessment initiated on specific Investigation Wing information about substantial cash deposits was sustained where the Assessing Officer examined the information and formed a belief that income had escaped assessment. Recording cash receipts as sales did not by itself establish that corresponding bank deposits arose from business sales; reliable linkage among the sales, stock movement and deposits was required to rebut an unexplained cash-credit addition. A challenge to mere initiation of penalty proceedings was premature, while interest levied consequentially on the assessment followed the assessment outcome. Highlights Income Tax Fri, 09 Oct 2026 11:10:00 +0530 https://www.taxtmi.com/highlights?id=104729