https://www.taxtmi.com/caselaws?id=772302 Reopening of assessment was invalidated because the assessing officer lacked specific, tangible material when issuing the notice; reliance on general information from the investigation wing without targeted enquiries failed to establish a reason to believe escapement of income, so the reassessment was void. The AO had already received and examined subscriber details, PANs, ITRs and bank statements, and neither search proceedings nor original assessment produced incriminating material. Administrative appellate review by CIT(A) and ITAT found no nondisclosure of material facts by the taxpayer; consequence: reassessment quashed and decision favours the assessee. en-us Sat, 31 May 2025 00:00:00 +0530 Mon, 09 Feb 2026 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772302 Reopening of assessment was invalidated because the assessing officer lacked specific, tangible material when issuing the notice; reliance on general information from the investigation wing without targeted enquiries failed to establish a reason to believe escapement of income, so the reassessment was void. The AO had already received and examined subscriber details, PANs, ITRs and bank statements, and neither search proceedings nor original assessment produced incriminating material. Administrative appellate review by CIT(A) and ITAT found no nondisclosure of material facts by the taxpayer; consequence: reassessment quashed and decision favours the assessee. Case-Laws Income Tax Sat, 31 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772302