https://www.taxtmi.com/caselaws?id=801723 Section 148A(3) requires consideration of the taxpayer's response and supporting documents before forming an opinion that reassessment is warranted. Material explaining alleged undisclosed turnover as cash deposits, capital transactions, unsecured loans and land-sale advances must be examined to determine whether it represents business turnover. Mere reference to absent reconciliation or documentary evidence, without examining the explanation and recording cogent reasons, does not satisfy this requirement. The reassessment order and consequential notice were set aside for fresh consideration after due examination of the material furnished. en-us Wed, 07 Oct 2026 00:00:00 +0530 Mon, 26 Oct 2026 08:05:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801723 Section 148A(3) requires consideration of the taxpayer's response and supporting documents before forming an opinion that reassessment is warranted. Material explaining alleged undisclosed turnover as cash deposits, capital transactions, unsecured loans and land-sale advances must be examined to determine whether it represents business turnover. Mere reference to absent reconciliation or documentary evidence, without examining the explanation and recording cogent reasons, does not satisfy this requirement. The reassessment order and consequential notice were set aside for fresh consideration after due examination of the material furnished. Case-Laws Income Tax Wed, 07 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801723