https://www.taxtmi.com/caselaws?id=449249 A notice under section 148 issued for assessment year 2016-17 was beyond the normal limitation period, and the extended period under section 149 could apply only if the escaped income was at least Rs. 50,00,000 and other statutory conditions were met. As the escaped income recorded in the reassessment material was Rs. 39,21,450, the threshold for extended limitation was not satisfied. The reassessment initiation was therefore without jurisdiction, and the reassessment order and demand notice, being consequential, were unsustainable and quashed. en-us Mon, 11 Dec 2023 00:00:00 +0530 Wed, 20 Aug 2025 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449249 A notice under section 148 issued for assessment year 2016-17 was beyond the normal limitation period, and the extended period under section 149 could apply only if the escaped income was at least Rs. 50,00,000 and other statutory conditions were met. As the escaped income recorded in the reassessment material was Rs. 39,21,450, the threshold for extended limitation was not satisfied. The reassessment initiation was therefore without jurisdiction, and the reassessment order and demand notice, being consequential, were unsustainable and quashed. Case-Laws Income Tax Mon, 11 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449249