https://www.taxtmi.com/caselaws?id=783045 ITAT set aside the reassessment initiated u/s 147 on the allegation of bogus purchases. The AO had reopened the assessment solely on the basis of information from the Investigation Wing and a third-party statement indicating issuance of bogus bills, without any independent, concrete material linking the assessee to such accommodation entries. ITAT noted that the assessee's transactions were duly recorded in GST returns and payments were made through banking channels, and that CIT(A)'s conclusions were based on mere suspicion unsupported by documentary evidence. Holding that "reason to believe" cannot rest on uncorroborated information alone, ITAT declared the reopening invalid, vitiated the entire reassessment proceedings, and allowed the assessee's appeal. en-us Thu, 27 Nov 2025 00:00:00 +0530 Fri, 05 Dec 2025 17:37:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783045 ITAT set aside the reassessment initiated u/s 147 on the allegation of bogus purchases. The AO had reopened the assessment solely on the basis of information from the Investigation Wing and a third-party statement indicating issuance of bogus bills, without any independent, concrete material linking the assessee to such accommodation entries. ITAT noted that the assessee's transactions were duly recorded in GST returns and payments were made through banking channels, and that CIT(A)'s conclusions were based on mere suspicion unsupported by documentary evidence. Holding that "reason to believe" cannot rest on uncorroborated information alone, ITAT declared the reopening invalid, vitiated the entire reassessment proceedings, and allowed the assessee's appeal. Case-Laws Income Tax Thu, 27 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783045