https://www.taxtmi.com/caselaws?id=468397 Under the reassessment regime, a notice under section 148 issued beyond three years is barred unless the escaped income represented in the prescribed form is fifty lakh rupees or more. The earlier notice under the old regime was treated as a show-cause notice under section 148A, but the governing limitation under section 149 still controlled the fresh initiation. On the admitted facts, the escaped income was below the statutory threshold, so the notice dated 30.07.2022 was time-barred and could not survive. The reassessment proceedings were therefore quashed, while the remaining challenge was left open. en-us Fri, 27 Feb 2026 00:00:00 +0530 Mon, 04 May 2026 19:59:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468397 Under the reassessment regime, a notice under section 148 issued beyond three years is barred unless the escaped income represented in the prescribed form is fifty lakh rupees or more. The earlier notice under the old regime was treated as a show-cause notice under section 148A, but the governing limitation under section 149 still controlled the fresh initiation. On the admitted facts, the escaped income was below the statutory threshold, so the notice dated 30.07.2022 was time-barred and could not survive. The reassessment proceedings were therefore quashed, while the remaining challenge was left open. Case-Laws Income Tax Fri, 27 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468397