https://www.taxtmi.com/caselaws?id=793899 Reassessment initiated on the basis of search material was treated as governed by the pre-Finance (No. 2) Act, 2024 regime under Section 152(3) where the search occurred within that covered period. Even so, a notice under Section 148 must independently comply with the limitation in Section 149. On the stated facts, the assessment year ended on 31.03.2022, the notice was issued on 23.05.2025, and the alleged escaped income did not meet the threshold for the extended period, so the notice was beyond the three-year limit and invalid. en-us Mon, 15 Jun 2026 00:00:00 +0530 Thu, 25 Jun 2026 08:27:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793899 Reassessment initiated on the basis of search material was treated as governed by the pre-Finance (No. 2) Act, 2024 regime under Section 152(3) where the search occurred within that covered period. Even so, a notice under Section 148 must independently comply with the limitation in Section 149. On the stated facts, the assessment year ended on 31.03.2022, the notice was issued on 23.05.2025, and the alleged escaped income did not meet the threshold for the extended period, so the notice was beyond the three-year limit and invalid. Case-Laws Income Tax Mon, 15 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793899