https://www.taxtmi.com/caselaws?id=794902 Reassessment under Sections 147 and 148 of the Income-tax Act, 1961 may be sustained where specific information about substantial bank deposits is supported by statutory enquiries, including verification under Section 133(6) and statements recorded under Sections 132(4) and 131(1A). The material must connect accounts standing in the assessee's name with accommodation-entry operations, while the assessee must identify any jurisdictional or procedural defect. Where the assessee fails to rebut corroborative evidence or explain the transactions, commission income may be estimated on total bank credits; the stated analysis treats an estimate of 0.05% as reasonable, particularly where non-cooperation results in assessment under Section 144. en-us Fri, 19 Jun 2026 00:00:00 +0530 Tue, 14 Jul 2026 08:26:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794902 Reassessment under Sections 147 and 148 of the Income-tax Act, 1961 may be sustained where specific information about substantial bank deposits is supported by statutory enquiries, including verification under Section 133(6) and statements recorded under Sections 132(4) and 131(1A). The material must connect accounts standing in the assessee's name with accommodation-entry operations, while the assessee must identify any jurisdictional or procedural defect. Where the assessee fails to rebut corroborative evidence or explain the transactions, commission income may be estimated on total bank credits; the stated analysis treats an estimate of 0.05% as reasonable, particularly where non-cooperation results in assessment under Section 144. Case-Laws Income Tax Fri, 19 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794902