https://www.taxtmi.com/caselaws?id=787520 Assessing Officer validly reopened the assessment despite no original return because departmental information about purchase and transfer transactions supported a reason to believe escapement of income, and sanction for reopening was found proper; jurisdiction under reopening provisions was upheld. However, the addition as unexplained investment was set aside and remitted to the Assessing Officer for fresh adjudication because the assessee had not been afforded adequate opportunity to substantiate the source of funds; the officer must reexamine evidence and pass a speaking order. en-us Thu, 05 Mar 2026 00:00:00 +0530 Sat, 07 Mar 2026 08:39:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787520 Assessing Officer validly reopened the assessment despite no original return because departmental information about purchase and transfer transactions supported a reason to believe escapement of income, and sanction for reopening was found proper; jurisdiction under reopening provisions was upheld. However, the addition as unexplained investment was set aside and remitted to the Assessing Officer for fresh adjudication because the assessee had not been afforded adequate opportunity to substantiate the source of funds; the officer must reexamine evidence and pass a speaking order. Case-Laws Income Tax Thu, 05 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787520