https://www.taxtmi.com/caselaws?id=784860 Validity of reopening of assessment examined where reopening notice lacked particulars of alleged unsecured loans and identities of purported dummy companies, and no material indicating escaped income was specified; insufficiency of reasons to believe was held to vitiate the action, and the reopening relied solely on an investigation report. Assessee had furnished ledger entries, confirmations, bank details and ITRs and denied transactions with the searched entity, asserting no new information under section 148A; the procedural record showed only a draft order without requisite approval, leading to quashing of the reassessment order. en-us Fri, 09 Jan 2026 00:00:00 +0530 Tue, 13 Jan 2026 08:29:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784860 Validity of reopening of assessment examined where reopening notice lacked particulars of alleged unsecured loans and identities of purported dummy companies, and no material indicating escaped income was specified; insufficiency of reasons to believe was held to vitiate the action, and the reopening relied solely on an investigation report. Assessee had furnished ledger entries, confirmations, bank details and ITRs and denied transactions with the searched entity, asserting no new information under section 148A; the procedural record showed only a draft order without requisite approval, leading to quashing of the reassessment order. Case-Laws Income Tax Fri, 09 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784860