https://www.taxtmi.com/caselaws?id=797772 Reassessment notices issued more than three years after the relevant assessment year require material revealing escaped income of at least Rs. 50 lakh and prior sanction from the higher specified authority. These conditions are mandatory for assuming reassessment jurisdiction. Where the alleged escaped income was below that threshold and approval came from the Principal Commissioner rather than the authority prescribed for delayed notices, jurisdiction was not validly assumed. The reassessment notice was invalid, and the consequential assessment was quashed. en-us Wed, 19 Aug 2026 00:00:00 +0530 Thu, 27 Aug 2026 08:28:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797772 Reassessment notices issued more than three years after the relevant assessment year require material revealing escaped income of at least Rs. 50 lakh and prior sanction from the higher specified authority. These conditions are mandatory for assuming reassessment jurisdiction. Where the alleged escaped income was below that threshold and approval came from the Principal Commissioner rather than the authority prescribed for delayed notices, jurisdiction was not validly assumed. The reassessment notice was invalid, and the consequential assessment was quashed. Case-Laws Income Tax Wed, 19 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797772