https://www.taxtmi.com/caselaws?id=467735 Reassessment jurisdiction requires tangible material on correct facts showing a live nexus with escapement of income; reopening based on survey material concerning third parties, alleged accommodation entries, and assumptions unsupported by the record is invalid. The recorded reasons showed no independent application of mind by the AO and relied on incorrect factual assumptions about the alleged loans, so the reopening was bad in law for both assessment years. en-us Wed, 12 Feb 2025 00:00:00 +0530 Tue, 31 Mar 2026 09:59:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467735 Reassessment jurisdiction requires tangible material on correct facts showing a live nexus with escapement of income; reopening based on survey material concerning third parties, alleged accommodation entries, and assumptions unsupported by the record is invalid. The recorded reasons showed no independent application of mind by the AO and relied on incorrect factual assumptions about the alleged loans, so the reopening was bad in law for both assessment years. Case-Laws Income Tax Wed, 12 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467735