https://www.taxtmi.com/caselaws?id=801405 Reassessment for AY 2020-21 cannot be initiated solely from information about a land-sale transaction completed in FY 2020-21, because that transaction pertains to AY 2021-22. Where the recorded information, the order under section 148A(3), and the Revenue's affidavit identify the transaction as occurring in FY 2020-21, they provide no basis to infer escaped income for AY 2020-21. The statutory precondition for reopening is therefore absent, rendering the reassessment proceedings invalid and liable to be quashed. en-us Mon, 05 Oct 2026 00:00:00 +0530 Wed, 21 Oct 2026 08:37:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801405 Reassessment for AY 2020-21 cannot be initiated solely from information about a land-sale transaction completed in FY 2020-21, because that transaction pertains to AY 2021-22. Where the recorded information, the order under section 148A(3), and the Revenue's affidavit identify the transaction as occurring in FY 2020-21, they provide no basis to infer escaped income for AY 2020-21. The statutory precondition for reopening is therefore absent, rendering the reassessment proceedings invalid and liable to be quashed. Case-Laws Income Tax Mon, 05 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801405