https://www.taxtmi.com/caselaws?id=800818 Reassessment requires material indicating that income chargeable to tax escaped assessment in the specific assessment year proposed for reopening. Unsecured loans had been obtained and disclosed in the preceding year, while the relevant year's ledger reflected only interest expenditure. The loan amounts cited in the reopening material also did not match the recorded interest amount. Because the alleged loan transactions did not pertain to the year reopened, the reassessment lacked a sustainable factual basis and was unsustainable. en-us Wed, 07 Oct 2026 00:00:00 +0530 Mon, 12 Oct 2026 04:18:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800818 Reassessment requires material indicating that income chargeable to tax escaped assessment in the specific assessment year proposed for reopening. Unsecured loans had been obtained and disclosed in the preceding year, while the relevant year's ledger reflected only interest expenditure. The loan amounts cited in the reopening material also did not match the recorded interest amount. Because the alleged loan transactions did not pertain to the year reopened, the reassessment lacked a sustainable factual basis and was unsustainable. Case-Laws Income Tax Wed, 07 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800818