Erroneous PAN Mapping Invalidates Reassessment Based on Another Person's Share Transaction and Prevents Limitation Avoidance

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....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.....