https://www.taxtmi.com/caselaws?id=61716 Reassessment based solely on a VDIS declaration was unsustainable where the declaration itself showed that the assets related to earlier years and there was no independent material linking them to escapement of income in the relevant assessment year. The note states that reopening cannot rest on an accepted declaration alone; the Assessing Officer must have a live nexus between the material and a reasonable belief that taxable income escaped assessment. On those facts, the reassessment was treated as invalid for want of jurisdictional basis. en-us Wed, 19 Dec 2007 00:00:00 +0530 Mon, 23 Jul 2012 18:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61716 Reassessment based solely on a VDIS declaration was unsustainable where the declaration itself showed that the assets related to earlier years and there was no independent material linking them to escapement of income in the relevant assessment year. The note states that reopening cannot rest on an accepted declaration alone; the Assessing Officer must have a live nexus between the material and a reasonable belief that taxable income escaped assessment. On those facts, the reassessment was treated as invalid for want of jurisdictional basis. Case-Laws Income Tax Wed, 19 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61716