https://www.taxtmi.com/caselaws?id=799605 Under the transitional reassessment framework, proceedings under Section 148A and a fresh Section 148 notice must be completed within the surviving limitation period after applicable exclusions. A notice issued after that period is time-barred, rendering the consequential reassessment void ab initio and unavailable for revision under Section 263. Revision also requires a valid assessment order that is both erroneous and prejudicial to Revenue interests. Where the Assessing Officer has examined share acquisition and sale records, contract notes, demat and bank records, securities transaction tax, accounts, and capital-gain claims, actual inquiry and application of mind cannot be treated as no inquiry merely because further inquiry is preferred. en-us Mon, 31 Aug 2026 00:00:00 +0530 Thu, 24 Sep 2026 08:27:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799605 Under the transitional reassessment framework, proceedings under Section 148A and a fresh Section 148 notice must be completed within the surviving limitation period after applicable exclusions. A notice issued after that period is time-barred, rendering the consequential reassessment void ab initio and unavailable for revision under Section 263. Revision also requires a valid assessment order that is both erroneous and prejudicial to Revenue interests. Where the Assessing Officer has examined share acquisition and sale records, contract notes, demat and bank records, securities transaction tax, accounts, and capital-gain claims, actual inquiry and application of mind cannot be treated as no inquiry merely because further inquiry is preferred. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799605