https://www.taxtmi.com/caselaws?id=338068 Reassessment under Section 148 of the Income-tax Act was invalid because the Assessing Officer did not independently form a reason to believe, on relevant material, that income had escaped assessment. The assessment for the year had already been completed under Section 143(3) read with Section 153A after search proceedings, and the on-money issue had been examined then; unsigned and undated third-party documents, which did not identify the assessee or the purchasers, could not support jurisdiction, and the Section 132(4A) presumption was inapplicable to material found in another person's search. en-us Mon, 09 Jan 2017 00:00:00 +0530 Tue, 24 Jan 2017 08:36:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338068 Reassessment under Section 148 of the Income-tax Act was invalid because the Assessing Officer did not independently form a reason to believe, on relevant material, that income had escaped assessment. The assessment for the year had already been completed under Section 143(3) read with Section 153A after search proceedings, and the on-money issue had been examined then; unsigned and undated third-party documents, which did not identify the assessee or the purchasers, could not support jurisdiction, and the Section 132(4A) presumption was inapplicable to material found in another person's search. Case-Laws Income Tax Mon, 09 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338068