https://www.taxtmi.com/caselaws?id=793669 Reassessment under section 148A(d) was barred by limitation where the alleged escaped income, on proper appreciation of the ledger entries, fell below the threshold in section 149(1)(b). The HC found that the Assessing Officer ignored a material credit entry and treated other items as escapement to reach an inflated figure, but the proper computation reduced the amount below the statutory limit for the longer reopening period. As a result, the notice issued beyond the permissible period could not be sustained and the order under section 148A(d) was quashed. en-us Mon, 15 Jun 2026 00:00:00 +0530 Sat, 20 Jun 2026 08:04:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793669 Reassessment under section 148A(d) was barred by limitation where the alleged escaped income, on proper appreciation of the ledger entries, fell below the threshold in section 149(1)(b). The HC found that the Assessing Officer ignored a material credit entry and treated other items as escapement to reach an inflated figure, but the proper computation reduced the amount below the statutory limit for the longer reopening period. As a result, the notice issued beyond the permissible period could not be sustained and the order under section 148A(d) was quashed. Case-Laws Income Tax Mon, 15 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793669