https://www.taxtmi.com/caselaws?id=762489 Reopening beyond three years required the Revenue to satisfy the higher jurisdictional threshold under section 149(1)(b) on a proper, reasoned application of mind to the material. The notice and order were based on mixed and inconsistent figures drawn from separate information heads, and the record did not establish escaped income exceeding the statutory threshold of Rs. 50 lakh. Because the Assessing Officer adopted a cumulative and mechanical approach without differentiating the underlying material, the reassessment was treated as lacking jurisdiction and the addition could not be sustained. en-us Fri, 29 Nov 2024 00:00:00 +0530 Mon, 02 Dec 2024 08:55:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762489 Reopening beyond three years required the Revenue to satisfy the higher jurisdictional threshold under section 149(1)(b) on a proper, reasoned application of mind to the material. The notice and order were based on mixed and inconsistent figures drawn from separate information heads, and the record did not establish escaped income exceeding the statutory threshold of Rs. 50 lakh. Because the Assessing Officer adopted a cumulative and mechanical approach without differentiating the underlying material, the reassessment was treated as lacking jurisdiction and the addition could not be sustained. Case-Laws Income Tax Fri, 29 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762489