https://www.taxtmi.com/highlights?id=101563 Reassessment under section 148A requires the AO to verify the information, disclose the material and inquiry results to the assessee, consider the reply, and record a reasoned view before reopening. Where the notice was based on vague Investigation Wing inputs alleging bogus purchases, without identifying the disputed invoices or supplying supporting material, the Tribunal found no independent application of mind and held the reopening bad in law. On the merits, the assessee produced GST returns, bills, e-way bills, lorry receipts, ledger and bank evidence, while corresponding sales were accepted; in the absence of any defect or proof of grey-market sourcing, the addition for unexplained expenditure was deleted. en-us Fri, 10 Jul 2026 07:39:09 +0530 Fri, 10 Jul 2026 07:39:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=101563 Reassessment under section 148A requires the AO to verify the information, disclose the material and inquiry results to the assessee, consider the reply, and record a reasoned view before reopening. Where the notice was based on vague Investigation Wing inputs alleging bogus purchases, without identifying the disputed invoices or supplying supporting material, the Tribunal found no independent application of mind and held the reopening bad in law. On the merits, the assessee produced GST returns, bills, e-way bills, lorry receipts, ledger and bank evidence, while corresponding sales were accepted; in the absence of any defect or proof of grey-market sourcing, the addition for unexplained expenditure was deleted. Highlights Income Tax Fri, 10 Jul 2026 07:39:09 +0530 https://www.taxtmi.com/highlights?id=101563