https://www.taxtmi.com/caselaws?id=769175 Gujarat HC quashed an order under section 148A(d) for reopening assessment regarding crypto currency purchase. The petitioner had filed income return and provided bank statements showing funds borrowed from father for crypto purchase. The AO's order was self-contradictory, stating in one paragraph that return was filed while claiming in another that no return was filed. The court found the order passed without application of mind, ignoring facts on record. The assessee's appeal was allowed and the impugned order was set aside. en-us Tue, 08 Apr 2025 00:00:00 +0530 Mon, 21 Apr 2025 08:41:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769175 Gujarat HC quashed an order under section 148A(d) for reopening assessment regarding crypto currency purchase. The petitioner had filed income return and provided bank statements showing funds borrowed from father for crypto purchase. The AO's order was self-contradictory, stating in one paragraph that return was filed while claiming in another that no return was filed. The court found the order passed without application of mind, ignoring facts on record. The assessee's appeal was allowed and the impugned order was set aside. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769175