https://www.taxtmi.com/caselaws?id=799679 Reassessment under sections 147 and 148 requires a legally sustainable reopening based on recorded information. Where the recorded reasons concern specified financial transactions but no addition is made on those transactions, an addition on unrelated surplus funds cannot be sustained. The absence of an addition on the issue forming the basis for reopening prevents reassessment from supporting a separate, unconnected addition; consequently, the reassessment and the surplus-fund addition are legally unsustainable. en-us Wed, 16 Sep 2026 00:00:00 +0530 Fri, 25 Sep 2026 08:16:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799679 Reassessment under sections 147 and 148 requires a legally sustainable reopening based on recorded information. Where the recorded reasons concern specified financial transactions but no addition is made on those transactions, an addition on unrelated surplus funds cannot be sustained. The absence of an addition on the issue forming the basis for reopening prevents reassessment from supporting a separate, unconnected addition; consequently, the reassessment and the surplus-fund addition are legally unsustainable. Case-Laws Income Tax Wed, 16 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799679