https://www.taxtmi.com/caselaws?id=786787 Reopening assessment beyond three years is permissible only where the assessing officer possesses specified books, documents or other evidence showing escaped income represented as an asset, expenditure or book entry meeting the statutory threshold; absence of identification of such material renders reassessment invalid and leads to quashment. Separately, estimating income by applying an ad hoc percentage of turnover without formally rejecting the books of account and following the statutory procedure is impermissible; such ad hoc estimation lacks evidentiary and statutory foundation and is set aside. en-us Tue, 17 Feb 2026 00:00:00 +0530 Thu, 19 Feb 2026 07:58:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786787 Reopening assessment beyond three years is permissible only where the assessing officer possesses specified books, documents or other evidence showing escaped income represented as an asset, expenditure or book entry meeting the statutory threshold; absence of identification of such material renders reassessment invalid and leads to quashment. Separately, estimating income by applying an ad hoc percentage of turnover without formally rejecting the books of account and following the statutory procedure is impermissible; such ad hoc estimation lacks evidentiary and statutory foundation and is set aside. Case-Laws Income Tax Tue, 17 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786787