https://www.taxtmi.com/caselaws?id=797794 Reassessment under Explanation 2(iv) to section 148 requires seized material to have a prima facie nexus with the assessee and the alleged income escapement. An unsigned, illegible and uncorroborated loose paper did not identify the assessee or purchaser, concerned an unrelated person, and pre-dated the assessee's land purchase by nearly two years. No material connected the assessee to the entities or broker mentioned in that paper. The assumed transaction value rested on hypothesis rather than a live link between the seized material and the assessee; consequently, the reassessment notice was invalid and quashed. en-us Thu, 20 Aug 2026 00:00:00 +0530 Thu, 27 Aug 2026 08:28:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797794 Reassessment under Explanation 2(iv) to section 148 requires seized material to have a prima facie nexus with the assessee and the alleged income escapement. An unsigned, illegible and uncorroborated loose paper did not identify the assessee or purchaser, concerned an unrelated person, and pre-dated the assessee's land purchase by nearly two years. No material connected the assessee to the entities or broker mentioned in that paper. The assumed transaction value rested on hypothesis rather than a live link between the seized material and the assessee; consequently, the reassessment notice was invalid and quashed. Case-Laws Income Tax Thu, 20 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797794