https://www.taxtmi.com/highlights?id=105048 Extended reassessment beyond six years from a search requires material showing that escaped income is represented in the form of an asset. Additions for unexplained money and unexplained expenditure cannot support the extended period where they are not founded on an asset discovered during the search; a statement recorded during search does not, by itself, satisfy that statutory condition. On that basis, the reopening was invalid, the additions remained deleted, and the Revenue's appeal was dismissed. The assessee's cross-objection was infructuous. en-us Fri, 16 Oct 2026 05:20:55 +0530 Fri, 16 Oct 2026 05:20:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105048 Extended reassessment beyond six years from a search requires material showing that escaped income is represented in the form of an asset. Additions for unexplained money and unexplained expenditure cannot support the extended period where they are not founded on an asset discovered during the search; a statement recorded during search does not, by itself, satisfy that statutory condition. On that basis, the reopening was invalid, the additions remained deleted, and the Revenue's appeal was dismissed. The assessee's cross-objection was infructuous. Highlights Income Tax Fri, 16 Oct 2026 05:20:55 +0530 https://www.taxtmi.com/highlights?id=105048