https://www.taxtmi.com/highlights?id=96366 Reopening of assessment challenged on the ground that reasons to believe lacked a live evidentiary link between seized materials and the assessee; the AO relied on statements and a brokers register suggesting a cash on money component and a unit rate, but those documents did not name the co-owner or the assessee. The AOs computation accepted the assessees 30% share, yet the asserted intent to sell the entire plot earlier conflicted with subsequent gift transactions by the co-owner. For lack of independent corroborative material connecting the assessee to the alleged on-money transaction, the impugned notice was quashed. en-us Tue, 27 Jan 2026 07:36:06 +0530 Tue, 27 Jan 2026 07:36:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=96366 Reopening of assessment challenged on the ground that reasons to believe lacked a live evidentiary link between seized materials and the assessee; the AO relied on statements and a brokers register suggesting a cash on money component and a unit rate, but those documents did not name the co-owner or the assessee. The AOs computation accepted the assessees 30% share, yet the asserted intent to sell the entire plot earlier conflicted with subsequent gift transactions by the co-owner. For lack of independent corroborative material connecting the assessee to the alleged on-money transaction, the impugned notice was quashed. Highlights Income Tax Tue, 27 Jan 2026 07:36:06 +0530 https://www.taxtmi.com/highlights?id=96366