https://www.taxtmi.com/caselaws?id=786016 Reopening of assessment was invalid because the assessing officer lacked tangible information demonstrating a live nexus between material and the formation of belief that income escaped assessment; information from an investigation portal was not verified against assessee records and thus insufficient, so reassessment under the reasons-to-believe doctrine failed and the appeal was allowed. The addition under alleged bogus longterm capital gains was therefore not sustained due to absence of verified background material connecting the transactions to undisclosed income. en-us Mon, 02 Feb 2026 00:00:00 +0530 Wed, 04 Feb 2026 08:24:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786016 Reopening of assessment was invalid because the assessing officer lacked tangible information demonstrating a live nexus between material and the formation of belief that income escaped assessment; information from an investigation portal was not verified against assessee records and thus insufficient, so reassessment under the reasons-to-believe doctrine failed and the appeal was allowed. The addition under alleged bogus longterm capital gains was therefore not sustained due to absence of verified background material connecting the transactions to undisclosed income. Case-Laws Income Tax Mon, 02 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786016