https://www.taxtmi.com/caselaws?id=471185 Reassessment based on alleged accommodation-entry information requires the Assessing Officer to independently form a reason to believe that taxable income escaped assessment. Investigation material alone is insufficient where the assessee's explanation and records are not properly examined. Treating a share issue as unsecured loans, despite contrary material, and relying on factual errors undermines the reopening. Where the income forming the recorded basis for reopening is explained or does not survive, another income identified during reassessment cannot be independently assessed. The reassessment is therefore void and consequential additions cannot survive. en-us Wed, 02 Apr 2025 00:00:00 +0530 Mon, 24 Aug 2026 18:59:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471185 Reassessment based on alleged accommodation-entry information requires the Assessing Officer to independently form a reason to believe that taxable income escaped assessment. Investigation material alone is insufficient where the assessee's explanation and records are not properly examined. Treating a share issue as unsecured loans, despite contrary material, and relying on factual errors undermines the reopening. Where the income forming the recorded basis for reopening is explained or does not survive, another income identified during reassessment cannot be independently assessed. The reassessment is therefore void and consequential additions cannot survive. Case-Laws Income Tax Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471185