https://www.taxtmi.com/caselaws?id=775239 Reassessment under sections 147 and 148 was held invalid where the alleged escapement was not supported by tangible material or any live link connecting the information to the assessee. The assessee denied receipt of the amount and supported that denial with bank evidence, while the record did not establish receipt or any substantive basis for reopening. As the foundation for reassessment failed, the reassessment proceedings were quashed and the addition made in the reassessment order also fell. en-us Fri, 18 Jul 2025 00:00:00 +0530 Tue, 22 Jul 2025 08:25:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775239 Reassessment under sections 147 and 148 was held invalid where the alleged escapement was not supported by tangible material or any live link connecting the information to the assessee. The assessee denied receipt of the amount and supported that denial with bank evidence, while the record did not establish receipt or any substantive basis for reopening. As the foundation for reassessment failed, the reassessment proceedings were quashed and the addition made in the reassessment order also fell. Case-Laws Income Tax Fri, 18 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775239