https://www.taxtmi.com/caselaws?id=467311 Cash withdrawals recorded in bank accounts qualify as an asset for triggering reassessment under the Income-tax Act where they meet the statutory threshold; this supports the Assessing Officer's jurisdiction under reassessment provisions. A Section 148A(d) order that records a prima facie opinion and simultaneously affords the assessee an opportunity to produce evidence does not constitute a prohibited roving enquiry. Whether the notice was validly issued outside the Faceless Assessment procedure is left open for connected proceedings, with interim protection against giving effect to adverse orders until further adjudication. en-us Tue, 16 Jul 2024 00:00:00 +0530 Thu, 12 Mar 2026 18:15:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467311 Cash withdrawals recorded in bank accounts qualify as an asset for triggering reassessment under the Income-tax Act where they meet the statutory threshold; this supports the Assessing Officer's jurisdiction under reassessment provisions. A Section 148A(d) order that records a prima facie opinion and simultaneously affords the assessee an opportunity to produce evidence does not constitute a prohibited roving enquiry. Whether the notice was validly issued outside the Faceless Assessment procedure is left open for connected proceedings, with interim protection against giving effect to adverse orders until further adjudication. Case-Laws Income Tax Tue, 16 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467311