https://www.taxtmi.com/caselaws?id=414527 Reassessment based on third-party search material requires a live nexus to the assessee and independent application of mind; where the reasons rely only on abbreviated coded entries without establishing linkage, reopening under section 147 fails and section 153C is the proper route where applicable. Additions for cash loans and interest based on seized pen-drive data and the searched person's statements cannot survive without corroboration, proved identity linkage, and opportunity for cross-examination. A long-term capital gains figure inserted only in the computation sheet, without a substantive addition in the reassessment order, was directed to be deleted. en-us Tue, 12 Oct 2021 00:00:00 +0530 Thu, 03 Mar 2022 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414527 Reassessment based on third-party search material requires a live nexus to the assessee and independent application of mind; where the reasons rely only on abbreviated coded entries without establishing linkage, reopening under section 147 fails and section 153C is the proper route where applicable. Additions for cash loans and interest based on seized pen-drive data and the searched person's statements cannot survive without corroboration, proved identity linkage, and opportunity for cross-examination. A long-term capital gains figure inserted only in the computation sheet, without a substantive addition in the reassessment order, was directed to be deleted. Case-Laws Income Tax Tue, 12 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414527