https://www.taxtmi.com/caselaws?id=798111 Reassessment notices and consequential orders were invalid where the recorded reasons rested on unverified and factually incorrect information. For one assessment year, reopening proceeded on the false premise that the assessee had not filed a return, and transaction descriptions were ambiguous. For the other, the notice lacked transaction-wise and party-wise particulars, incorrectly characterised bank transactions and amounts advanced as undisclosed income, and relied on an unverified aggregate. A substantial later reduction in the alleged escaped income reinforced the lack of verification. These defects established non-application of mind both in recording reasons and granting statutory approval, requiring the notices and consequential reassessment orders to be quashed. en-us Mon, 31 Aug 2026 00:00:00 +0530 Wed, 02 Sep 2026 08:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798111 Reassessment notices and consequential orders were invalid where the recorded reasons rested on unverified and factually incorrect information. For one assessment year, reopening proceeded on the false premise that the assessee had not filed a return, and transaction descriptions were ambiguous. For the other, the notice lacked transaction-wise and party-wise particulars, incorrectly characterised bank transactions and amounts advanced as undisclosed income, and relied on an unverified aggregate. A substantial later reduction in the alleged escaped income reinforced the lack of verification. These defects established non-application of mind both in recording reasons and granting statutory approval, requiring the notices and consequential reassessment orders to be quashed. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798111