https://www.taxtmi.com/highlights?id=105110 Reassessment beyond three years requires books of account, documents or other evidence revealing income escapement; an audit objection alone is an opinion and cannot satisfy this condition or justify review of concluded scrutiny assessments. Re-examination of already disclosed material, including limited-scrutiny records, constitutes a change of opinion, rendering reassessment proceedings time-barred and without jurisdiction. Writ jurisdiction may be invoked on admitted material to challenge a reassessment notice lacking jurisdiction despite an alternative statutory remedy or completion of reassessment. Excise-duty refunds under an industrial incentive scheme for establishing a new undertaking are capital receipts, while goodwill arising on amalgamation qualifies as a depreciable business or commercial right. en-us Sat, 17 Oct 2026 05:20:35 +0530 Sat, 17 Oct 2026 05:20:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105110 Reassessment beyond three years requires books of account, documents or other evidence revealing income escapement; an audit objection alone is an opinion and cannot satisfy this condition or justify review of concluded scrutiny assessments. Re-examination of already disclosed material, including limited-scrutiny records, constitutes a change of opinion, rendering reassessment proceedings time-barred and without jurisdiction. Writ jurisdiction may be invoked on admitted material to challenge a reassessment notice lacking jurisdiction despite an alternative statutory remedy or completion of reassessment. Excise-duty refunds under an industrial incentive scheme for establishing a new undertaking are capital receipts, while goodwill arising on amalgamation qualifies as a depreciable business or commercial right. Highlights Income Tax Sat, 17 Oct 2026 05:20:35 +0530 https://www.taxtmi.com/highlights?id=105110