https://www.taxtmi.com/caselaws?id=472622 For AY 2015-16, the statutory relaxation under TOLA for notices issued between 1 April and 30 June 2021 did not extend the applicable reassessment limitation; a notice issued on 13 April 2021 was therefore time-barred. Sale receipts recorded in regular accounts, supported by stock records, purchase details, invoices, VAT returns, confirmations and bank realisation, represented consideration for S.S. pipe sales. In the absence of material disproving those sales, treating amounts already credited as sales income as unexplained cash credits on mere suspicion would cause impermissible double taxation. Such documented sale proceeds should not attract unexplained-credit additions. en-us Tue, 22 Apr 2025 00:00:00 +0530 Sat, 17 Oct 2026 18:37:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472622 For AY 2015-16, the statutory relaxation under TOLA for notices issued between 1 April and 30 June 2021 did not extend the applicable reassessment limitation; a notice issued on 13 April 2021 was therefore time-barred. Sale receipts recorded in regular accounts, supported by stock records, purchase details, invoices, VAT returns, confirmations and bank realisation, represented consideration for S.S. pipe sales. In the absence of material disproving those sales, treating amounts already credited as sales income as unexplained cash credits on mere suspicion would cause impermissible double taxation. Such documented sale proceeds should not attract unexplained-credit additions. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472622