https://www.taxtmi.com/highlights?id=104406 Reassessment founded on a share transaction wrongly mapped to an assessee's PAN is unsustainable where the underlying information concerns another person. Initiating proceedings without verification merely to avoid limitation constitutes a colourable exercise of reassessment power. The reassessment order and consequential notice were quashed, and costs were awarded in the proceedings. en-us Thu, 01 Oct 2026 07:40:28 +0530 Thu, 01 Oct 2026 07:40:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104406 Reassessment founded on a share transaction wrongly mapped to an assessee's PAN is unsustainable where the underlying information concerns another person. Initiating proceedings without verification merely to avoid limitation constitutes a colourable exercise of reassessment power. The reassessment order and consequential notice were quashed, and costs were awarded in the proceedings. Highlights Income Tax Thu, 01 Oct 2026 07:40:28 +0530 https://www.taxtmi.com/highlights?id=104406