https://www.taxtmi.com/caselaws?id=789121 Reassessment based solely on general penny-stock information fails where no assessee-specific material links the taxpayer, broker or share transactions to an accommodation-entry network. An independent belief of escaped income requires a live link between the information received and the taxpayer's case; borrowed satisfaction is insufficient. Treating the entire share-sale consideration as unexplained money also requires evidence that the transactions were sham or part of a rigging scheme. In the absence of proof of commission receipt or payment, the alleged commission addition cannot stand. Invalid reassessment results in deletion of consequential interest and related additions. en-us Wed, 01 Apr 2026 00:00:00 +0530 Fri, 03 Apr 2026 08:49:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789121 Reassessment based solely on general penny-stock information fails where no assessee-specific material links the taxpayer, broker or share transactions to an accommodation-entry network. An independent belief of escaped income requires a live link between the information received and the taxpayer's case; borrowed satisfaction is insufficient. Treating the entire share-sale consideration as unexplained money also requires evidence that the transactions were sham or part of a rigging scheme. In the absence of proof of commission receipt or payment, the alleged commission addition cannot stand. Invalid reassessment results in deletion of consequential interest and related additions. Case-Laws Income Tax Wed, 01 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789121