https://www.taxtmi.com/caselaws?id=796305 For reassessment notices issued beyond three years, the conditions under Sections 148 and 149(1)(b) must be cumulatively met. Material available to the Assessing Officer must reveal income escaping assessment at the prescribed threshold and show that it is represented by an asset, expenditure, or book entries. The notes state that recorded reasons must identify seized material relating to the assessee, explain its relevance, and record the required satisfaction and prior approval under Explanation 2(iv) to Section 148. Ledger entries of alleged entry providers, without their contents or verification against the assessee's records, do not alone establish escaped income. en-us Tue, 07 Jul 2026 00:00:00 +0530 Tue, 04 Aug 2026 08:39:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796305 For reassessment notices issued beyond three years, the conditions under Sections 148 and 149(1)(b) must be cumulatively met. Material available to the Assessing Officer must reveal income escaping assessment at the prescribed threshold and show that it is represented by an asset, expenditure, or book entries. The notes state that recorded reasons must identify seized material relating to the assessee, explain its relevance, and record the required satisfaction and prior approval under Explanation 2(iv) to Section 148. Ledger entries of alleged entry providers, without their contents or verification against the assessee's records, do not alone establish escaped income. Case-Laws Income Tax Tue, 07 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796305