Topic

Escaped Income

2 articlesLatest March 2026
Section 149(1)(b) IT Act | Rs. 50 Lakh Escaped Income Threshold Mandatory for Reassessment Beyond 3 Years : ITAT Ahmedabad
Case Law Analysis
|Income Tax Appellate Tribunal

Section 149(1)(b) IT Act | Rs. 50 Lakh Escaped Income Threshold Mandatory for Reassessment Beyond 3 Years : ITAT Ahmedabad

ITAT Ahmedabad quashes reassessment proceedings for AY 2017-18, ruling that escaped income below Rs. 50 lakhs does not trigger jurisdiction under Section 149(1)(b) of the Income Tax Act. The decision reinforces the statutory threshold as a non-negotiable precondition for reassessment beyond three years, impacting tax authorities' powers to reopen closed assessments.

Section 142A Income Tax Act | Books of Accounts Must Be Explicitly Rejected Before DVO Valuation Can Be Adopted : Madras HC
Case Law Analysis
|Madras High Court

Section 142A Income Tax Act | Books of Accounts Must Be Explicitly Rejected Before DVO Valuation Can Be Adopted : Madras HC

Madras High Court mandates that Assessing Officers must formally reject an assessee's books of accounts before relying on a District Valuation Officer's report for escaped income assessment. The ruling clarifies that mere presumption of escapement without procedural compliance invalidates the valuation, reinforcing natural justice in tax proceedings.

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