https://www.taxtmi.com/caselaws?id=467045 A notice initiating reassessment cannot be validly issued beyond the three-year limitation period from the end of the relevant assessment year unless the income escaped assessment meets the statutory high-income threshold that triggers an extended limitation proviso. Where the admitted escaped income is below that threshold, the extended period is not available; applying that rule, the three-year period expired before the impugned notice and the notice is therefore time-barred. The document records that the notice dated 12.4.2022 for the assessment year 2018-19 was held barred by limitation and the appeal permitted in favour of the assessee. en-us Thu, 12 Dec 2024 00:00:00 +0530 Tue, 03 Mar 2026 17:28:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467045 A notice initiating reassessment cannot be validly issued beyond the three-year limitation period from the end of the relevant assessment year unless the income escaped assessment meets the statutory high-income threshold that triggers an extended limitation proviso. Where the admitted escaped income is below that threshold, the extended period is not available; applying that rule, the three-year period expired before the impugned notice and the notice is therefore time-barred. The document records that the notice dated 12.4.2022 for the assessment year 2018-19 was held barred by limitation and the appeal permitted in favour of the assessee. Case-Laws Income Tax Thu, 12 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467045