https://www.taxtmi.com/caselaws?id=787379 Failure to verify and consider documentary evidence of cancellation of registered sale deeds and reversal of transaction consideration vitiated the reassessment process under the reassessment procedure; where transactions were cancelled and accounting reflected reversal, income was held not to have truly accrued and reassessment based on hypothetical accrual was impermissible, accordingly the impugned assessment orders were quashed and set aside and the matter was remanded for verification of the documents which were not available during the original proceedings. en-us Tue, 24 Feb 2026 00:00:00 +0530 Tue, 03 Mar 2026 08:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787379 Failure to verify and consider documentary evidence of cancellation of registered sale deeds and reversal of transaction consideration vitiated the reassessment process under the reassessment procedure; where transactions were cancelled and accounting reflected reversal, income was held not to have truly accrued and reassessment based on hypothetical accrual was impermissible, accordingly the impugned assessment orders were quashed and set aside and the matter was remanded for verification of the documents which were not available during the original proceedings. Case-Laws Income Tax Tue, 24 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787379