https://www.taxtmi.com/caselaws?id=793814 An order under Section 148A and the consequential Section 148 notice was held unsustainable where the Assessing Officer failed to meaningfully consider the assessee's replies and supporting material before forming the opinion to reopen assessment. The Court noted that the responses dated 14 April 2025 and 19 June 2025 were not examined in full, and that limited reliance on partial bank statements and broad findings on circular fund movements and lack of commercial substance did not adequately address genuineness and creditworthiness. The impugned order and notice were quashed, and the matter was remitted for fresh consideration after hearing the assessee and passing a reasoned order. en-us Thu, 18 Jun 2026 00:00:00 +0530 Tue, 23 Jun 2026 13:10:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793814 An order under Section 148A and the consequential Section 148 notice was held unsustainable where the Assessing Officer failed to meaningfully consider the assessee's replies and supporting material before forming the opinion to reopen assessment. The Court noted that the responses dated 14 April 2025 and 19 June 2025 were not examined in full, and that limited reliance on partial bank statements and broad findings on circular fund movements and lack of commercial substance did not adequately address genuineness and creditworthiness. The impugned order and notice were quashed, and the matter was remitted for fresh consideration after hearing the assessee and passing a reasoned order. Case-Laws Income Tax Thu, 18 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793814