Reopening Tax Assessments u/s 148A(b) Requires Rs. 50L+ Escaped Income, Notice Within 3-10 Years Per Section 149(1)(b.

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....Reopening of assessment - notice u/s 148 A(b) - if the provisions of Section 149(1)(b) of the Act of 1961 are considered, it is seen that only if the amount in question that is likely to have escaped assessment is Rs.50,00,000/- or more, the time limit for issuing notice to re-open the assessment is three years but less than ten years. - HC....