https://www.taxtmi.com/caselaws?id=791795 Approval for reassessment under section 151 must show real satisfaction and application of mind to the recorded reasons; a bare pro forma endorsement such as "Yes" is insufficient, so the notice under sections 147/148 was invalid and the reopening failed. A further addition treating sales as bogus and invoking section 69A could not stand where the books were not rejected and accepted sales, purchases, inventory and net profit showed no discrepancy; in the absence of supporting material, the presumption of undisclosed funds was unjustified and the addition was deleted. en-us Wed, 29 Apr 2026 00:00:00 +0530 Mon, 18 May 2026 08:40:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791795 Approval for reassessment under section 151 must show real satisfaction and application of mind to the recorded reasons; a bare pro forma endorsement such as "Yes" is insufficient, so the notice under sections 147/148 was invalid and the reopening failed. A further addition treating sales as bogus and invoking section 69A could not stand where the books were not rejected and accepted sales, purchases, inventory and net profit showed no discrepancy; in the absence of supporting material, the presumption of undisclosed funds was unjustified and the addition was deleted. Case-Laws Income Tax Wed, 29 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791795