https://www.taxtmi.com/caselaws?id=798211 Reassessment under Section 148 requires the Assessing Officer's independent satisfaction, based on recorded material, that income has escaped assessment. Where an invalid return disclosed interest income, related expenditure and net profit, treating the entire gross interest income as escaped without material showing that expenditure was inadmissible did not establish a genuine basis for reopening. Reopening solely to comply with a CBDT instruction for invalid returns selected for scrutiny, rather than on independent satisfaction, renders the Section 148 notice and consequential reassessment void ab initio. en-us Mon, 31 Aug 2026 00:00:00 +0530 Thu, 03 Sep 2026 08:20:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798211 Reassessment under Section 148 requires the Assessing Officer's independent satisfaction, based on recorded material, that income has escaped assessment. Where an invalid return disclosed interest income, related expenditure and net profit, treating the entire gross interest income as escaped without material showing that expenditure was inadmissible did not establish a genuine basis for reopening. Reopening solely to comply with a CBDT instruction for invalid returns selected for scrutiny, rather than on independent satisfaction, renders the Section 148 notice and consequential reassessment void ab initio. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798211