https://www.taxtmi.com/caselaws?id=789703 Reassessment requires an independently formed belief on relevant material, not borrowed satisfaction or unverified information; on these facts, the notice and reassessment order were invalid because the assessee had produced invoices, bank records, transport documents, e-way bills, GST returns and stock details, and the adverse material was not properly supplied or dealt with. The addition for alleged bogus purchases under section 69C also failed because the purchases were recorded, payments were through banking channels, sales were not disputed, the books were not rejected, and the source of expenditure was explained by documentary evidence. The consequential levy under section 115BBE was therefore unsustainable, and the assessment was annulled. en-us Fri, 10 Apr 2026 00:00:00 +0530 Mon, 13 Apr 2026 07:52:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789703 Reassessment requires an independently formed belief on relevant material, not borrowed satisfaction or unverified information; on these facts, the notice and reassessment order were invalid because the assessee had produced invoices, bank records, transport documents, e-way bills, GST returns and stock details, and the adverse material was not properly supplied or dealt with. The addition for alleged bogus purchases under section 69C also failed because the purchases were recorded, payments were through banking channels, sales were not disputed, the books were not rejected, and the source of expenditure was explained by documentary evidence. The consequential levy under section 115BBE was therefore unsustainable, and the assessment was annulled. Case-Laws Income Tax Fri, 10 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789703