https://www.taxtmi.com/caselaws?id=459929 Writ petitions challenging reassessment notices under Section 148 were addressed by requiring individual re-examination under the Supreme Court's binding rulings on limitation, the substituted reassessment regime, and the monetary threshold for escaped income. The Court recognised that the applicability of time-bar rules and the surviving limitation period depended on the facts of each assessee's case, so each notice had to be tested separately. The competent officer was directed to apply the faceless procedure, communicate the decision to the assessee, and leave the statutory remedy open if any assessee remained aggrieved. en-us Sat, 19 Oct 2024 00:00:00 +0530 Fri, 03 Jan 2025 20:22:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459929 Writ petitions challenging reassessment notices under Section 148 were addressed by requiring individual re-examination under the Supreme Court's binding rulings on limitation, the substituted reassessment regime, and the monetary threshold for escaped income. The Court recognised that the applicability of time-bar rules and the surviving limitation period depended on the facts of each assessee's case, so each notice had to be tested separately. The competent officer was directed to apply the faceless procedure, communicate the decision to the assessee, and leave the statutory remedy open if any assessee remained aggrieved. Case-Laws Income Tax Sat, 19 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459929