https://www.taxtmi.com/caselaws?id=787914 Reopening of assessment was examined on whether the AO recorded independent reasons to believe supported by tangible material and a live nexus to escapement of income; reliance solely on an investigation wing report without AO's own application of mind constituted borrowed satisfaction and invalidated the reopening. Regarding share application monies, the taxpayer produced confirmations, bank statements, audited accounts and returns proving identity, genuineness and source; absence of independent material to displace that documentary proof meant the addition as unexplained cash credit was unsustainable and was set aside in favour of the assessee. en-us Wed, 06 Aug 2025 00:00:00 +0530 Thu, 12 Mar 2026 17:00:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787914 Reopening of assessment was examined on whether the AO recorded independent reasons to believe supported by tangible material and a live nexus to escapement of income; reliance solely on an investigation wing report without AO's own application of mind constituted borrowed satisfaction and invalidated the reopening. Regarding share application monies, the taxpayer produced confirmations, bank statements, audited accounts and returns proving identity, genuineness and source; absence of independent material to displace that documentary proof meant the addition as unexplained cash credit was unsustainable and was set aside in favour of the assessee. Case-Laws Income Tax Wed, 06 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787914