https://www.taxtmi.com/caselaws?id=795531 A reassessment notice issued after four years must record facts showing that the income alleged to have escaped assessment meets the monetary threshold under Section 149(1)(b); merely listing debit and credit entries without quantifying escapement does not establish that condition. The notes also explain that reopening is not permissible where the underlying transactions, ledger details and debtor information were disclosed and examined in the original scrutiny assessment. Reliance on material already available during that assessment, without demonstrable subsequent information, constitutes a change of opinion. These principles prevent continuation of reassessment proceedings based on an unmet extended-limitation condition and previously examined material. 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 A reassessment notice issued after four years must record facts showing that the income alleged to have escaped assessment meets the monetary threshold under Section 149(1)(b); merely listing debit and credit entries without quantifying escapement does not establish that condition. The notes also explain that reopening is not permissible where the underlying transactions, ledger details and debtor information were disclosed and examined in the original scrutiny assessment. Reliance on material already available during that assessment, without demonstrable subsequent information, constitutes a change of opinion. These principles prevent continuation of reassessment proceedings based on an unmet extended-limitation condition and previously examined material. Case-Laws Income Tax Tue, 14 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795531