https://www.taxtmi.com/caselaws?id=790909 A reassessment notice under section 148 was found time-barred because it was issued after the applicable limitation period for the relevant assessment year. The Tribunal treated the correct quantum of alleged escaped income as decisive, noting that the same deposit amount had been counted twice and the actual escapement was below the threshold relevant to the extended limitation under section 149(1)(b). Once the notice was held invalid, the reassessment proceedings founded on it could not survive and were quashed in favour of the assessee. en-us Thu, 30 Apr 2026 00:00:00 +0530 Sat, 02 May 2026 07:40:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790909 A reassessment notice under section 148 was found time-barred because it was issued after the applicable limitation period for the relevant assessment year. The Tribunal treated the correct quantum of alleged escaped income as decisive, noting that the same deposit amount had been counted twice and the actual escapement was below the threshold relevant to the extended limitation under section 149(1)(b). Once the notice was held invalid, the reassessment proceedings founded on it could not survive and were quashed in favour of the assessee. Case-Laws Income Tax Thu, 30 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790909