https://www.taxtmi.com/caselaws?id=800817 Reassessment under Sections 148 and 148A requires a valid basis to conclude that income has escaped assessment. Disclosure of cryptocurrency sales, purchases, opening and closing stock, and resulting income in the return, reply and reconciliation statement precludes a finding of non-disclosure merely because the return form lacks a separate cryptocurrency reporting head. Because the premise of undisclosed Bitcoin transactions was factually incorrect, the Section 148 notice and Section 148A(d) order were quashed. en-us Wed, 07 Oct 2026 00:00:00 +0530 Mon, 12 Oct 2026 04:18:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800817 Reassessment under Sections 148 and 148A requires a valid basis to conclude that income has escaped assessment. Disclosure of cryptocurrency sales, purchases, opening and closing stock, and resulting income in the return, reply and reconciliation statement precludes a finding of non-disclosure merely because the return form lacks a separate cryptocurrency reporting head. Because the premise of undisclosed Bitcoin transactions was factually incorrect, the Section 148 notice and Section 148A(d) order were quashed. Case-Laws Income Tax Wed, 07 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800817