https://www.taxtmi.com/caselaws?id=794914 Reassessment notices issued beyond three years under section 149 of the Income-tax Act, 1961 require the recorded escaped income relating to the relevant event to meet the statutory threshold prescribed by clause (b) and sub-section (1A). Separate payments for furniture purchases and interior designing fees were treated as distinct events or occasions. Their amounts could not be aggregated merely to satisfy the threshold for extended limitation. As each event remained below the prescribed threshold, the condition for reopening beyond three years was not met, and the reassessment notice and consequential proceedings were treated as barred by limitation. en-us Wed, 08 Jul 2026 00:00:00 +0530 Tue, 14 Jul 2026 08:26:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794914 Reassessment notices issued beyond three years under section 149 of the Income-tax Act, 1961 require the recorded escaped income relating to the relevant event to meet the statutory threshold prescribed by clause (b) and sub-section (1A). Separate payments for furniture purchases and interior designing fees were treated as distinct events or occasions. Their amounts could not be aggregated merely to satisfy the threshold for extended limitation. As each event remained below the prescribed threshold, the condition for reopening beyond three years was not met, and the reassessment notice and consequential proceedings were treated as barred by limitation. Case-Laws Income Tax Wed, 08 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794914