https://www.taxtmi.com/caselaws?id=801333 Section 149 bars a reassessment notice issued more than three years after the relevant assessment year unless the extended-period conditions apply. The extended period requires alleged escaped income, represented by an asset, expenditure, or book entry, to amount to or likely amount to the prescribed statutory threshold. Where the notice for the relevant assessment year was issued after five years and the alleged escapement was below that threshold, it was time-barred. The reassessment proceedings were therefore quashed. en-us Tue, 13 Oct 2026 00:00:00 +0530 Mon, 19 Oct 2026 07:01:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801333 Section 149 bars a reassessment notice issued more than three years after the relevant assessment year unless the extended-period conditions apply. The extended period requires alleged escaped income, represented by an asset, expenditure, or book entry, to amount to or likely amount to the prescribed statutory threshold. Where the notice for the relevant assessment year was issued after five years and the alleged escapement was below that threshold, it was time-barred. The reassessment proceedings were therefore quashed. Case-Laws Income Tax Tue, 13 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801333