https://www.taxtmi.com/caselaws?id=438241 Reassessment is invalid where the notice is issued by a non-jurisdictional Assessing Officer, because jurisdiction must rest with the officer duly vested over the assessee and a later transfer does not cure the defect. Reopening cannot rest on AIR information alone; without independent tangible material or a live nexus showing escapement of income, the recorded reasons are insufficient. In reassessment, notice under section 143(2) remains mandatory, and its absence is fatal. On the merits, cash deposits supported by withdrawals and business receipts cannot justify an addition where relevant bank and cash-flow material is ignored. en-us Mon, 15 May 2023 00:00:00 +0530 Thu, 25 May 2023 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438241 Reassessment is invalid where the notice is issued by a non-jurisdictional Assessing Officer, because jurisdiction must rest with the officer duly vested over the assessee and a later transfer does not cure the defect. Reopening cannot rest on AIR information alone; without independent tangible material or a live nexus showing escapement of income, the recorded reasons are insufficient. In reassessment, notice under section 143(2) remains mandatory, and its absence is fatal. On the merits, cash deposits supported by withdrawals and business receipts cannot justify an addition where relevant bank and cash-flow material is ignored. Case-Laws Income Tax Mon, 15 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438241