https://www.taxtmi.com/caselaws?id=791752 ITAT Mumbai held that reassessment based on alleged on-money information was unsustainable where the assessee was not furnished the relied-upon statements and seized material and was denied an effective opportunity to rebut them or seek cross-examination. The non-supply of foundational material and failure to grant meaningful procedural safeguards under section 148A breached natural justice and vitiated the assumption of jurisdiction for reopening. The order under section 148A(d), the notice under section 148 and the assessment under section 147 read with section 144B were therefore quashed. en-us Thu, 14 May 2026 00:00:00 +0530 Fri, 15 May 2026 18:33:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791752 ITAT Mumbai held that reassessment based on alleged on-money information was unsustainable where the assessee was not furnished the relied-upon statements and seized material and was denied an effective opportunity to rebut them or seek cross-examination. The non-supply of foundational material and failure to grant meaningful procedural safeguards under section 148A breached natural justice and vitiated the assumption of jurisdiction for reopening. The order under section 148A(d), the notice under section 148 and the assessment under section 147 read with section 144B were therefore quashed. Case-Laws Income Tax Thu, 14 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791752