https://www.taxtmi.com/caselaws?id=777553 HC quashed the reopening and notice under s.148A(d)/s.148, holding the AO lacked jurisdiction and no prima facie escapement of income was shown. Credits recorded at a cooperative bank during the demonetisation window related to AY 2017-18, not AY 2018-19, and the AO overlooked that temporal mismatch. Transactions with a trading counterparty were addressed by the assessee through ledger entries and the filed tax-audit report. For these reasons the impugned order and notice were set aside. en-us Tue, 26 Aug 2025 00:00:00 +0530 Mon, 01 Sep 2025 08:13:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777553 HC quashed the reopening and notice under s.148A(d)/s.148, holding the AO lacked jurisdiction and no prima facie escapement of income was shown. Credits recorded at a cooperative bank during the demonetisation window related to AY 2017-18, not AY 2018-19, and the AO overlooked that temporal mismatch. Transactions with a trading counterparty were addressed by the assessee through ledger entries and the filed tax-audit report. For these reasons the impugned order and notice were set aside. Case-Laws Income Tax Tue, 26 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777553