https://www.taxtmi.com/caselaws?id=775043 The ITAT Mumbai held that the reopening of assessment was invalid due to limitation period constraints. Since the income escaping assessment was below Rs. 50 lakhs and three years had elapsed from the end of the relevant assessment year, the assessment could not be reopened under the amended provisions effective from April 1, 2021. The tribunal ruled that the reopening was bad in law and quashed the proceedings initiated under section 148 notice. The assessee's appeal was allowed, establishing that the statutory time limit for reopening assessments must be strictly adhered to when the escaped income falls below the prescribed threshold. en-us Wed, 16 Jul 2025 00:00:00 +0530 Fri, 18 Jul 2025 08:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775043 The ITAT Mumbai held that the reopening of assessment was invalid due to limitation period constraints. Since the income escaping assessment was below Rs. 50 lakhs and three years had elapsed from the end of the relevant assessment year, the assessment could not be reopened under the amended provisions effective from April 1, 2021. The tribunal ruled that the reopening was bad in law and quashed the proceedings initiated under section 148 notice. The assessee's appeal was allowed, establishing that the statutory time limit for reopening assessments must be strictly adhered to when the escaped income falls below the prescribed threshold. Case-Laws Income Tax Wed, 16 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775043