https://www.taxtmi.com/caselaws?id=801081 Reassessment initiated more than three years after the relevant assessment year requires escaped income meeting the statutory threshold. Although the order under Section 148A(d) alleged escaped income above INR 50 lakh, the final reassessment addition, computed at 2% of alleged accommodation entries, was INR 24,21,552. As the final addition fell below the applicable threshold under Section 149(1)(b), the reassessment proceedings and reassessment order were invalid and quashed. en-us Tue, 29 Sep 2026 00:00:00 +0530 Thu, 15 Oct 2026 05:44:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801081 Reassessment initiated more than three years after the relevant assessment year requires escaped income meeting the statutory threshold. Although the order under Section 148A(d) alleged escaped income above INR 50 lakh, the final reassessment addition, computed at 2% of alleged accommodation entries, was INR 24,21,552. As the final addition fell below the applicable threshold under Section 149(1)(b), the reassessment proceedings and reassessment order were invalid and quashed. Case-Laws Income Tax Tue, 29 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801081