https://www.taxtmi.com/caselaws?id=794729 Under the substituted reassessment regime, reopening must be based on inquiry, consideration of the assessee's reply, and a reasoned determination on the material on record; a suspicion-based third-party report without independent verification cannot sustain section 148A/148 proceedings. The note also records that where the assessee produced invoices, bank statements, ledgers, e-way bills, lorry receipts and stock records, and sales were accepted, an addition for alleged bogus purchases or unexplained business expenditure is not sustainable if no specific defect is found in the documentary evidence. The impugned reassessment and related disallowance were therefore quashed and deleted. en-us Tue, 07 Jul 2026 00:00:00 +0530 Fri, 10 Jul 2026 07:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794729 Under the substituted reassessment regime, reopening must be based on inquiry, consideration of the assessee's reply, and a reasoned determination on the material on record; a suspicion-based third-party report without independent verification cannot sustain section 148A/148 proceedings. The note also records that where the assessee produced invoices, bank statements, ledgers, e-way bills, lorry receipts and stock records, and sales were accepted, an addition for alleged bogus purchases or unexplained business expenditure is not sustainable if no specific defect is found in the documentary evidence. The impugned reassessment and related disallowance were therefore quashed and deleted. Case-Laws Income Tax Tue, 07 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794729