https://www.taxtmi.com/caselaws?id=788639 Reassessment based only on AIR/CIB information, without verifying the complete bank record before issuing notice under section 148, was not sustained because mere third-party data did not justify reopening without proper examination of the material. The cash deposit addition was also deleted because the bank account had been opened on 29.12.2012, so deposits in that account could not be attributed to the assessment year in question. As the authorities failed to establish the relevant jurisdictional fact, both the reopening and the addition failed. en-us Mon, 16 Mar 2026 00:00:00 +0530 Thu, 26 Mar 2026 09:05:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788639 Reassessment based only on AIR/CIB information, without verifying the complete bank record before issuing notice under section 148, was not sustained because mere third-party data did not justify reopening without proper examination of the material. The cash deposit addition was also deleted because the bank account had been opened on 29.12.2012, so deposits in that account could not be attributed to the assessment year in question. As the authorities failed to establish the relevant jurisdictional fact, both the reopening and the addition failed. Case-Laws Income Tax Mon, 16 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788639