https://www.taxtmi.com/caselaws?id=786550 Reassessment under section 148 was found invalid because escaped income must be measured as real income chargeable to tax (excluding IGST) and, at the applied gross profit rate, the escaped income fell below the monetary threshold in section 149(1)(b), depriving the Assessing Officer of jurisdiction. Separately, an addition of a gross profit element on purchases was deleted on merits because primary transactional evidence (invoices, e-way bills, bank payments, goods received notes) existed, books were not rejected under section 145(3), and the AO failed to independently disprove the transactions, resulting in impermissible double taxation. en-us Wed, 11 Feb 2026 00:00:00 +0530 Sat, 14 Feb 2026 08:29:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786550 Reassessment under section 148 was found invalid because escaped income must be measured as real income chargeable to tax (excluding IGST) and, at the applied gross profit rate, the escaped income fell below the monetary threshold in section 149(1)(b), depriving the Assessing Officer of jurisdiction. Separately, an addition of a gross profit element on purchases was deleted on merits because primary transactional evidence (invoices, e-way bills, bank payments, goods received notes) existed, books were not rejected under section 145(3), and the AO failed to independently disprove the transactions, resulting in impermissible double taxation. Case-Laws Income Tax Wed, 11 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786550