https://www.taxtmi.com/caselaws?id=795937 A reassessment notice based solely on a broker's seized inquiry-register entry alleging on-money payment for land purchase was unsustainable where the entry pre-dated the registered transaction, recorded asking rates rather than concluded sales, and did not identify or link the assessee or co-purchasers. Matching survey numbers alone did not establish a live and direct nexus between the seized material and the assessee's transaction. The statutory presumption for seized material could not transform a disconnected and unreliable entry into evidence of undisclosed payment. The notice under Section 148 was quashed. en-us Thu, 16 Jul 2026 00:00:00 +0530 Wed, 29 Jul 2026 08:21:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795937 A reassessment notice based solely on a broker's seized inquiry-register entry alleging on-money payment for land purchase was unsustainable where the entry pre-dated the registered transaction, recorded asking rates rather than concluded sales, and did not identify or link the assessee or co-purchasers. Matching survey numbers alone did not establish a live and direct nexus between the seized material and the assessee's transaction. The statutory presumption for seized material could not transform a disconnected and unreliable entry into evidence of undisclosed payment. The notice under Section 148 was quashed. Case-Laws Income Tax Thu, 16 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795937