https://www.taxtmi.com/caselaws?id=470111 Reassessment jurisdiction requires recorded reasons founded on verified and factually accurate information, with independent application of mind before issuing notice. The notes state that the reopening reasons attributed higher cash deposits than those shown in the subsequently obtained bank statement, and that bank information was sought only after the notice was issued. Reopening based on incorrect foundational facts without prior enquiry did not meet the conditions for reassessment jurisdiction. The reopening under Section 148 and consequential reassessment were therefore void. en-us Wed, 15 May 2024 00:00:00 +0530 Thu, 16 Jul 2026 10:58:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470111 Reassessment jurisdiction requires recorded reasons founded on verified and factually accurate information, with independent application of mind before issuing notice. The notes state that the reopening reasons attributed higher cash deposits than those shown in the subsequently obtained bank statement, and that bank information was sought only after the notice was issued. Reopening based on incorrect foundational facts without prior enquiry did not meet the conditions for reassessment jurisdiction. The reopening under Section 148 and consequential reassessment were therefore void. Case-Laws Income Tax Wed, 15 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470111