https://www.taxtmi.com/caselaws?id=469761 Reassessment under sections 147 and 148 was invalid where the recorded reasons were internally inconsistent and failed to show a clear basis for belief that income had escaped assessment. The reasons said no return had been filed, yet also acknowledged that a return was filed and only no scrutiny assessment under section 143(3) had been made. Cash deposits in a bank account, without more, were not treated as sufficient to establish escapement of income. A reopening must rest on coherent, objective reasons to believe, not a vague or contradictory premise; the reassessment was therefore quashed in favour of the assessee. en-us Mon, 10 Mar 2025 00:00:00 +0530 Thu, 02 Jul 2026 20:38:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469761 Reassessment under sections 147 and 148 was invalid where the recorded reasons were internally inconsistent and failed to show a clear basis for belief that income had escaped assessment. The reasons said no return had been filed, yet also acknowledged that a return was filed and only no scrutiny assessment under section 143(3) had been made. Cash deposits in a bank account, without more, were not treated as sufficient to establish escapement of income. A reopening must rest on coherent, objective reasons to believe, not a vague or contradictory premise; the reassessment was therefore quashed in favour of the assessee. Case-Laws Income Tax Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469761