https://www.taxtmi.com/caselaws?id=470694 Reassessment based on alleged client-code modification transactions requires assessee-specific tangible material and independent application of mind by the Assessing Officer. General information from the Investigation Wing, without identifying relevant brokers, trades, client-code details, or fictitious profits or losses attributable to the assessee, does not establish a live link with escaped income. Mechanical reproduction of such information constitutes borrowed satisfaction rather than a valid reason to believe. Reassessment initiation on this basis was invalid, and the assessment was quashed. en-us Wed, 26 Mar 2025 00:00:00 +0530 Tue, 04 Aug 2026 20:51:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470694 Reassessment based on alleged client-code modification transactions requires assessee-specific tangible material and independent application of mind by the Assessing Officer. General information from the Investigation Wing, without identifying relevant brokers, trades, client-code details, or fictitious profits or losses attributable to the assessee, does not establish a live link with escaped income. Mechanical reproduction of such information constitutes borrowed satisfaction rather than a valid reason to believe. Reassessment initiation on this basis was invalid, and the assessment was quashed. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470694