https://www.taxtmi.com/caselaws?id=472666 Section 292BB validates defects in service of a timely issued assessment notice when the taxpayer participates in proceedings; it does not cure complete non-issuance. Partners' capital is not unexplained income of the firm where confirmations, tax identifiers, returns and other evidence establish source, identity and creditworthiness. Loan credits require identity, creditworthiness and genuineness, while opening balances cannot be taxed as current-year cash credits. Trade creditors remain explained where underlying purchases or expenses are accepted and supporting confirmations and ledgers exist; non-response to information notices alone, without adverse material, is insufficient. en-us Thu, 13 Jun 2024 00:00:00 +0530 Wed, 21 Oct 2026 16:56:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472666 Section 292BB validates defects in service of a timely issued assessment notice when the taxpayer participates in proceedings; it does not cure complete non-issuance. Partners' capital is not unexplained income of the firm where confirmations, tax identifiers, returns and other evidence establish source, identity and creditworthiness. Loan credits require identity, creditworthiness and genuineness, while opening balances cannot be taxed as current-year cash credits. Trade creditors remain explained where underlying purchases or expenses are accepted and supporting confirmations and ledgers exist; non-response to information notices alone, without adverse material, is insufficient. Case-Laws Income Tax Thu, 13 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472666