https://www.taxtmi.com/highlights?id=101691 Objections to reassessment must address material submissions relevant to the alleged source of funds for share purchases. Although the Assessing Officer's reasoning appeared prima facie sustainable on the material initially available, later material comprising a letter and annexures concerning loans and own funds also required consideration before the objections were decided. The order rejecting the objections was therefore set aside, with directions for fresh consideration after examining the additional material. The validity of the reopening was not decided, and all contentions on its merits remained open. en-us Tue, 14 Jul 2026 08:26:27 +0530 Tue, 14 Jul 2026 08:26:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=101691 Objections to reassessment must address material submissions relevant to the alleged source of funds for share purchases. Although the Assessing Officer's reasoning appeared prima facie sustainable on the material initially available, later material comprising a letter and annexures concerning loans and own funds also required consideration before the objections were decided. The order rejecting the objections was therefore set aside, with directions for fresh consideration after examining the additional material. The validity of the reopening was not decided, and all contentions on its merits remained open. Highlights Income Tax Tue, 14 Jul 2026 08:26:27 +0530 https://www.taxtmi.com/highlights?id=101691