https://www.taxtmi.com/caselaws?id=470628 Reassessment based solely on unverified suspicious information and a desire to conduct inquiry lacks a direct nexus between the information and alleged income escapement. Where no addition is made for the transaction forming the recorded basis for reopening, reassessment jurisdiction cannot be retained to assess separate income detected during the proceedings. The Section 148 notice and consequent reassessment were void from inception and quashed in favour of the assessee. en-us Tue, 25 Mar 2025 00:00:00 +0530 Sat, 01 Aug 2026 19:57:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470628 Reassessment based solely on unverified suspicious information and a desire to conduct inquiry lacks a direct nexus between the information and alleged income escapement. Where no addition is made for the transaction forming the recorded basis for reopening, reassessment jurisdiction cannot be retained to assess separate income detected during the proceedings. The Section 148 notice and consequent reassessment were void from inception and quashed in favour of the assessee. Case-Laws Income Tax Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470628