https://www.taxtmi.com/caselaws?id=798827 Mandatory reassessment procedure requires recorded reasons for reopening to be supplied when requested after a return is filed in response to a reopening notice, with objections decided before further reassessment action. Failure to provide those reasons renders the reassessment unsustainable. Documented equity-share sale proceeds, supported by banking records, dematerialised holdings, recognised stock-exchange trades, registered brokers and securities transaction tax, cannot be treated as unexplained cash credit solely on general investigation material or suspicion of bogus long-term capital gains. In the absence of cogent evidence linking the taxpayer to cash transactions, entry operators or price manipulation, the share-sale and consequential commission additions do not survive. en-us Wed, 09 Sep 2026 00:00:00 +0530 Sat, 12 Sep 2026 08:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798827 Mandatory reassessment procedure requires recorded reasons for reopening to be supplied when requested after a return is filed in response to a reopening notice, with objections decided before further reassessment action. Failure to provide those reasons renders the reassessment unsustainable. Documented equity-share sale proceeds, supported by banking records, dematerialised holdings, recognised stock-exchange trades, registered brokers and securities transaction tax, cannot be treated as unexplained cash credit solely on general investigation material or suspicion of bogus long-term capital gains. In the absence of cogent evidence linking the taxpayer to cash transactions, entry operators or price manipulation, the share-sale and consequential commission additions do not survive. Case-Laws Income Tax Wed, 09 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798827