https://www.taxtmi.com/caselaws?id=449395 The HC quashed reopening proceedings under Section 148A for failure to consider the petitioner's reply-cum-objection, violating natural justice principles and mandatory procedural requirements. The court held that the AO must consider assessee's objections as per Section 148A(c). Additionally, since the escaped income was Rs. 32.68 lakhs (petitioner's 50% share from joint property sale), below the Rs. 50 lakh threshold under Section 149(1)(b), the extended limitation period could not be invoked. The assessment proceedings were deemed barred by limitation and beyond jurisdiction, resulting in quashing of the entire enquiry proceeding and Section 148 notice. en-us Wed, 24 Jan 2024 00:00:00 +0530 Tue, 22 Oct 2024 16:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449395 The HC quashed reopening proceedings under Section 148A for failure to consider the petitioner's reply-cum-objection, violating natural justice principles and mandatory procedural requirements. The court held that the AO must consider assessee's objections as per Section 148A(c). Additionally, since the escaped income was Rs. 32.68 lakhs (petitioner's 50% share from joint property sale), below the Rs. 50 lakh threshold under Section 149(1)(b), the extended limitation period could not be invoked. The assessment proceedings were deemed barred by limitation and beyond jurisdiction, resulting in quashing of the entire enquiry proceeding and Section 148 notice. Case-Laws Income Tax Wed, 24 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449395