https://www.taxtmi.com/caselaws?id=768373 ITAT Hyderabad quashed the reassessment notice issued under section 148 beyond three years from the relevant assessment year. The AO passed order under section 148A(d) based on non-existent information and incorrectly assumed jurisdiction when escaped income did not exceed Rs. 50 lakhs. The tribunal held that allowing reopening based on unavailable information would permit AOs to reopen assessments by citing irrelevant information, contrary to law. The notice was declared illegal and void-ab-initio, and the consequent assessment order under section 143(3) read with section 147 was quashed. Decision favored the assessee. en-us Thu, 03 Apr 2025 00:00:00 +0530 Sat, 05 Apr 2025 08:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768373 ITAT Hyderabad quashed the reassessment notice issued under section 148 beyond three years from the relevant assessment year. The AO passed order under section 148A(d) based on non-existent information and incorrectly assumed jurisdiction when escaped income did not exceed Rs. 50 lakhs. The tribunal held that allowing reopening based on unavailable information would permit AOs to reopen assessments by citing irrelevant information, contrary to law. The notice was declared illegal and void-ab-initio, and the consequent assessment order under section 143(3) read with section 147 was quashed. Decision favored the assessee. Case-Laws Income Tax Thu, 03 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768373