https://www.taxtmi.com/caselaws?id=801339 Reassessment under Sections 148A(3) and 148 requires genuine consideration of the assessee's response and supporting material before a reasoned opinion is formed on issuing a reassessment notice. Where alleged undisclosed business turnover is explained as loan funding from known entities, ledgers and bank statements must be examined rather than disregarded for further investigation. Prior approval obtained before considering the reply may indicate predisposition. Failure to apply mind to the explanation and evidence renders the order and consequential notice defective and requires fresh consideration by the assessing authority. en-us Wed, 09 Sep 2026 00:00:00 +0530 Mon, 19 Oct 2026 07:01:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801339 Reassessment under Sections 148A(3) and 148 requires genuine consideration of the assessee's response and supporting material before a reasoned opinion is formed on issuing a reassessment notice. Where alleged undisclosed business turnover is explained as loan funding from known entities, ledgers and bank statements must be examined rather than disregarded for further investigation. Prior approval obtained before considering the reply may indicate predisposition. Failure to apply mind to the explanation and evidence renders the order and consequential notice defective and requires fresh consideration by the assessing authority. Case-Laws Income Tax Wed, 09 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801339