https://www.taxtmi.com/caselaws?id=784616 A reassessment notice under Section 148 was upheld where the material showed a cash transaction entry linked to the assessee and an admission of a flat purchase from the same group, as this was sufficient at the threshold to indicate possible escapement of income. The Court clarified that, after 01.04.2021, Section 148 does not require recording reasons to believe in the pre-amendment sense or possession of information or evidence in that form. The notice was therefore not void for want of jurisdiction, and the assessee was left to contest the factual nexus and basis of the material before the authority in accordance with law. en-us Mon, 05 Jan 2026 00:00:00 +0530 Thu, 08 Jan 2026 08:22:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784616 A reassessment notice under Section 148 was upheld where the material showed a cash transaction entry linked to the assessee and an admission of a flat purchase from the same group, as this was sufficient at the threshold to indicate possible escapement of income. The Court clarified that, after 01.04.2021, Section 148 does not require recording reasons to believe in the pre-amendment sense or possession of information or evidence in that form. The notice was therefore not void for want of jurisdiction, and the assessee was left to contest the factual nexus and basis of the material before the authority in accordance with law. Case-Laws Income Tax Mon, 05 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784616