https://www.taxtmi.com/caselaws?id=470111 Reassessment jurisdiction requires recorded reasons based on correct foundational facts and prior application of mind. Reopening was initiated on an incorrect cash-deposit figure, while the bank statement obtained only after issuance of notice showed lower deposits. Without independent verification before issuing the reopening notice, the statutory prerequisites for reassessment jurisdiction were not met. The Section 148 reopening was therefore quashed, and the consequential reassessment was 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 based on correct foundational facts and prior application of mind. Reopening was initiated on an incorrect cash-deposit figure, while the bank statement obtained only after issuance of notice showed lower deposits. Without independent verification before issuing the reopening notice, the statutory prerequisites for reassessment jurisdiction were not met. The Section 148 reopening was therefore quashed, and the consequential reassessment was void. Case-Laws Income Tax Wed, 15 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470111