https://www.taxtmi.com/caselaws?id=764763 The HC held that the reassessment notices issued post-Finance Act, 2021, were invalid as the escaped income was below the pecuniary threshold under Section 149(1)(b). Although procedural safeguards under Section 148A were substantially complied with, the approval granted by the Joint Commissioner under Section 151 was not competent authority approval as required post-01 April 2021. The court relied on SC precedent to emphasize the necessity of jurisdictional compliance and proper approval within extended timelines introduced by TOLA. Consequently, the reassessment proceedings and notices under Section 148 were quashed, ruling in favor of the assessee. en-us Wed, 15 Jan 2025 00:00:00 +0530 Mon, 04 Aug 2025 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764763 The HC held that the reassessment notices issued post-Finance Act, 2021, were invalid as the escaped income was below the pecuniary threshold under Section 149(1)(b). Although procedural safeguards under Section 148A were substantially complied with, the approval granted by the Joint Commissioner under Section 151 was not competent authority approval as required post-01 April 2021. The court relied on SC precedent to emphasize the necessity of jurisdictional compliance and proper approval within extended timelines introduced by TOLA. Consequently, the reassessment proceedings and notices under Section 148 were quashed, ruling in favor of the assessee. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764763