https://www.taxtmi.com/caselaws?id=795531 Section 149(1)(b) requires reasons for a reassessment notice issued after four years to establish that escaped income meets the statutory monetary threshold. Reasons that merely reproduce debit and credit entries and allege escapement without quantification do not demonstrate that condition, rendering extended-period reassessment invalid. Reopening is also impermissible where the relevant ledger, debtor details and transaction were disclosed and examined during the original scrutiny assessment under Section 143(3). Reliance on material already available at that stage, without demonstrable subsequent information, amounts to a change of opinion. en-us Tue, 14 Jul 2026 00:00:00 +0530 Thu, 23 Jul 2026 08:42:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795531 Section 149(1)(b) requires reasons for a reassessment notice issued after four years to establish that escaped income meets the statutory monetary threshold. Reasons that merely reproduce debit and credit entries and allege escapement without quantification do not demonstrate that condition, rendering extended-period reassessment invalid. Reopening is also impermissible where the relevant ledger, debtor details and transaction were disclosed and examined during the original scrutiny assessment under Section 143(3). Reliance on material already available at that stage, without demonstrable subsequent information, amounts to a change of opinion. Case-Laws Income Tax Tue, 14 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795531