https://www.taxtmi.com/caselaws?id=792279 Reassessment under section 147 requires independent tangible material establishing a rational nexus between available information and income escaping assessment; information from the Investigation Wing or an alleged entry operator, without independent inquiry, amounts to borrowed satisfaction. Where purchases and corresponding sales are recorded in the books, an addition under section 68 for alleged bogus purchases or accommodation entries requires cogent evidence that the transactions are fictitious. Amounts already reflected through disclosed sales cannot be taxed again as unexplained credits, as this would result in double addition. en-us Wed, 20 May 2026 00:00:00 +0530 Mon, 25 May 2026 11:46:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792279 Reassessment under section 147 requires independent tangible material establishing a rational nexus between available information and income escaping assessment; information from the Investigation Wing or an alleged entry operator, without independent inquiry, amounts to borrowed satisfaction. Where purchases and corresponding sales are recorded in the books, an addition under section 68 for alleged bogus purchases or accommodation entries requires cogent evidence that the transactions are fictitious. Amounts already reflected through disclosed sales cannot be taxed again as unexplained credits, as this would result in double addition. Case-Laws Income Tax Wed, 20 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792279