https://www.taxtmi.com/caselaws?id=796817 Reassessment initiated more than three years after the relevant assessment year requires approval from the specified senior authority under section 151(ii); approval by a Principal Commissioner is not competent for that period. Notice beyond three years is permissible under section 149(1)(b) only where escaped income represented by an asset meets the prescribed threshold. Where the alleged escaped income falls below that threshold, the section 148A(d) order, section 148 notice and consequential reassessment are invalid and liable to be quashed. en-us Wed, 05 Aug 2026 00:00:00 +0530 Tue, 11 Aug 2026 08:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796817 Reassessment initiated more than three years after the relevant assessment year requires approval from the specified senior authority under section 151(ii); approval by a Principal Commissioner is not competent for that period. Notice beyond three years is permissible under section 149(1)(b) only where escaped income represented by an asset meets the prescribed threshold. Where the alleged escaped income falls below that threshold, the section 148A(d) order, section 148 notice and consequential reassessment are invalid and liable to be quashed. Case-Laws Income Tax Wed, 05 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796817