https://www.taxtmi.com/caselaws?id=801406 Reassessment proceedings under Sections 147, 148 and 148A require meaningful consideration of an assessee's explanation of bank credits before determining whether reassessment is warranted. Where credits are claimed to include advances and the assessee provides entity details while offering further confirmations and supporting particulars, the tax authority must afford an opportunity to furnish that material. Proceeding without seeking or considering the offered confirmations and clarifications does not adequately assess the fitness of the matter for reassessment. en-us Tue, 06 Oct 2026 00:00:00 +0530 Wed, 21 Oct 2026 08:37:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801406 Reassessment proceedings under Sections 147, 148 and 148A require meaningful consideration of an assessee's explanation of bank credits before determining whether reassessment is warranted. Where credits are claimed to include advances and the assessee provides entity details while offering further confirmations and supporting particulars, the tax authority must afford an opportunity to furnish that material. Proceeding without seeking or considering the offered confirmations and clarifications does not adequately assess the fitness of the matter for reassessment. Case-Laws Income Tax Tue, 06 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801406