https://www.taxtmi.com/caselaws?id=789318 Reassessment beyond three years under section 149(1)(b) requires material showing escapement of income of the statutory threshold amount or more. Where the reopening was based on information suggesting cash deposits, term deposits and interest income, but the completed assessment resulted in an addition far below that threshold, the extended limitation could not be invoked. Reliance on incorrect or non-existent information meant the notice under section 148 suffered from a jurisdictional defect. The reassessment notice was therefore invalid and the consequential assessment was quashed. en-us Thu, 26 Feb 2026 00:00:00 +0530 Tue, 07 Apr 2026 07:48:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789318 Reassessment beyond three years under section 149(1)(b) requires material showing escapement of income of the statutory threshold amount or more. Where the reopening was based on information suggesting cash deposits, term deposits and interest income, but the completed assessment resulted in an addition far below that threshold, the extended limitation could not be invoked. Reliance on incorrect or non-existent information meant the notice under section 148 suffered from a jurisdictional defect. The reassessment notice was therefore invalid and the consequential assessment was quashed. Case-Laws Income Tax Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789318