https://www.taxtmi.com/caselaws?id=791211 Reassessment based on Investigation Wing information was sustained because the recorded reasons relied on tangible material, notice and opportunity were given, and statutory approval was obtained; the sufficiency of the material was not required to be tested at the initiation stage. Purchases from the alleged supplier were treated as bogus because the supplier was non-existent, notices were unserved, and no independent proof of delivery, transport, or consumption of goods was produced. Mere invoices and banking payments were held insufficient, so the full purchase amount was applied as unexplained expenditure under section 69C and profit estimation was rejected. en-us Tue, 05 May 2026 00:00:00 +0530 Thu, 07 May 2026 07:08:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791211 Reassessment based on Investigation Wing information was sustained because the recorded reasons relied on tangible material, notice and opportunity were given, and statutory approval was obtained; the sufficiency of the material was not required to be tested at the initiation stage. Purchases from the alleged supplier were treated as bogus because the supplier was non-existent, notices were unserved, and no independent proof of delivery, transport, or consumption of goods was produced. Mere invoices and banking payments were held insufficient, so the full purchase amount was applied as unexplained expenditure under section 69C and profit estimation was rejected. Case-Laws Income Tax Tue, 05 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791211