https://www.taxtmi.com/caselaws?id=447093 Reassessment under Sections 148A(b), 148A(d) and 148 could not be sustained where the assessee's status as an agent of the State Government had already been accepted and only a fixed taxable income of Rs. 5,00,000 had been brought to tax. The Tribunal and earlier court findings showed that the returned income was accepted under Section 143(3) at that figure, leaving no material to indicate escapement of income. As the jurisdictional foundation for reopening was absent, the reassessment proceedings were quashed in favour of the assessee. en-us Mon, 11 Dec 2023 00:00:00 +0530 Thu, 19 Feb 2026 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447093 Reassessment under Sections 148A(b), 148A(d) and 148 could not be sustained where the assessee's status as an agent of the State Government had already been accepted and only a fixed taxable income of Rs. 5,00,000 had been brought to tax. The Tribunal and earlier court findings showed that the returned income was accepted under Section 143(3) at that figure, leaving no material to indicate escapement of income. As the jurisdictional foundation for reopening was absent, the reassessment proceedings were quashed in favour of the assessee. Case-Laws Income Tax Mon, 11 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447093