https://www.taxtmi.com/caselaws?id=467312 Jurisdictional issuing of reassessment notices is upheld: the assessing officer's Section 148A(d) record of prima facie satisfaction and provision of opportunity to produce documents satisfied legal requirements, negating a prohibited roving inquiry, and thus the jurisdictional AO may validly issue the notice. Bank cash withdrawals and deposits constitute an "asset" for purposes of initiating reassessment under Section 149(1)(b) where reported transaction thresholds are met, so financial transaction information showing substantial cash movements can trigger reassessment proceedings. Precedential treatment favouring the Revenue governs the dispute and the challenge to the Section 148A(d) order was dismissed. en-us Wed, 07 May 2025 00:00:00 +0530 Fri, 13 Mar 2026 18:58:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467312 Jurisdictional issuing of reassessment notices is upheld: the assessing officer's Section 148A(d) record of prima facie satisfaction and provision of opportunity to produce documents satisfied legal requirements, negating a prohibited roving inquiry, and thus the jurisdictional AO may validly issue the notice. Bank cash withdrawals and deposits constitute an "asset" for purposes of initiating reassessment under Section 149(1)(b) where reported transaction thresholds are met, so financial transaction information showing substantial cash movements can trigger reassessment proceedings. Precedential treatment favouring the Revenue governs the dispute and the challenge to the Section 148A(d) order was dismissed. Case-Laws Income Tax Wed, 07 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467312