https://www.taxtmi.com/caselaws?id=800656 Reassessment under Sections 147 and 148 is sustainable where Investigation Wing information on substantial bank cash deposits constitutes tangible material and the Assessing Officer forms a belief that income escaped assessment, rather than acting on mere suspicion or a change of opinion. Cash deposits recorded as cash sales may be added as unexplained cash credits when the taxpayer cannot establish a nexus between the alleged sales, stock movement and bank deposits. Invoices and cash-book entries alone do not prove the genuineness of substantial cash receipts. On these facts, both the reopening and the unexplained cash-credit addition remain sustainable. en-us Wed, 23 Sep 2026 00:00:00 +0530 Fri, 09 Oct 2026 08:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800656 Reassessment under Sections 147 and 148 is sustainable where Investigation Wing information on substantial bank cash deposits constitutes tangible material and the Assessing Officer forms a belief that income escaped assessment, rather than acting on mere suspicion or a change of opinion. Cash deposits recorded as cash sales may be added as unexplained cash credits when the taxpayer cannot establish a nexus between the alleged sales, stock movement and bank deposits. Invoices and cash-book entries alone do not prove the genuineness of substantial cash receipts. On these facts, both the reopening and the unexplained cash-credit addition remain sustainable. Case-Laws Income Tax Wed, 23 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800656