https://www.taxtmi.com/caselaws?id=796252 Reassessment jurisdiction cannot continue where no addition is made on the cash withdrawals and deposits that formed the recorded basis for reopening. The reassessment instead estimated profit from an unrelated milk-trading business, without addressing the transactions identified in the order under Section 148A(d) and notice under Section 148. As the foundation for the belief that income had escaped assessment did not survive, the inquiry could not be shifted to unrelated business-profit estimation. The reassessment proceedings were void ab initio and quashed in favour of the assessee. en-us Tue, 02 Jun 2026 00:00:00 +0530 Mon, 03 Aug 2026 08:20:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796252 Reassessment jurisdiction cannot continue where no addition is made on the cash withdrawals and deposits that formed the recorded basis for reopening. The reassessment instead estimated profit from an unrelated milk-trading business, without addressing the transactions identified in the order under Section 148A(d) and notice under Section 148. As the foundation for the belief that income had escaped assessment did not survive, the inquiry could not be shifted to unrelated business-profit estimation. The reassessment proceedings were void ab initio and quashed in favour of the assessee. Case-Laws Income Tax Tue, 02 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796252