https://www.taxtmi.com/caselaws?id=802412 Section 149 distinguishes the ordinary three-year period for reassessment from the extended period, which requires alleged escaped income to meet the prescribed Rs. 50 lakh threshold. Exclusion of specified time and extension of a short residual period cannot be used to invoke the extended period when that threshold is unmet. Section 151 requires the sanctioning authority to independently consider the material, including the taxpayer's reply, the income involved and limitation. Reasons supplied later cannot supplement approval lacking contemporaneous consideration. en-us Fri, 30 Oct 2026 00:00:00 +0530 Thu, 05 Nov 2026 07:44:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=802412 Section 149 distinguishes the ordinary three-year period for reassessment from the extended period, which requires alleged escaped income to meet the prescribed Rs. 50 lakh threshold. Exclusion of specified time and extension of a short residual period cannot be used to invoke the extended period when that threshold is unmet. Section 151 requires the sanctioning authority to independently consider the material, including the taxpayer's reply, the income involved and limitation. Reasons supplied later cannot supplement approval lacking contemporaneous consideration. Case-Laws Income Tax Fri, 30 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=802412