https://www.taxtmi.com/caselaws?id=467044 Whether the assessing officer validly reopened assessment under section 148 read with 148A turns on the statutory time bar in section 149(1)(b): reopening beyond three years is permissible only where escaped income is likely to meet the specified monetary threshold. Applying that statutory threshold to the assessed escaped income in this matter, the assumption of jurisdiction was impermissible and the reopening could not be sustained; related challenges to a deduction disallowance became academic once the reopening was quashed and the appeal allowed in favour of the assessee by ITAT. en-us Mon, 24 Jun 2024 00:00:00 +0530 Tue, 03 Mar 2026 17:28:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467044 Whether the assessing officer validly reopened assessment under section 148 read with 148A turns on the statutory time bar in section 149(1)(b): reopening beyond three years is permissible only where escaped income is likely to meet the specified monetary threshold. Applying that statutory threshold to the assessed escaped income in this matter, the assumption of jurisdiction was impermissible and the reopening could not be sustained; related challenges to a deduction disallowance became academic once the reopening was quashed and the appeal allowed in favour of the assessee by ITAT. Case-Laws Income Tax Mon, 24 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467044