https://www.taxtmi.com/caselaws?id=801151 The first proviso to Section 149(1) retains the limitation period under the pre-1 April 2021 reassessment regime for assessment years beginning on or before that date. For Assessment Year 2015-16, where alleged escaped income exceeded the applicable threshold, the former six-year period ended on 31 March 2022. Consequently, a reassessment notice issued on 20 March 2024 fell outside the surviving limitation period, invalidating assumption of jurisdiction under Section 147 and the consequential assessment. en-us Tue, 04 Aug 2026 00:00:00 +0530 Fri, 16 Oct 2026 05:20:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801151 The first proviso to Section 149(1) retains the limitation period under the pre-1 April 2021 reassessment regime for assessment years beginning on or before that date. For Assessment Year 2015-16, where alleged escaped income exceeded the applicable threshold, the former six-year period ended on 31 March 2022. Consequently, a reassessment notice issued on 20 March 2024 fell outside the surviving limitation period, invalidating assumption of jurisdiction under Section 147 and the consequential assessment. Case-Laws Income Tax Tue, 04 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801151