Topic

escaped income threshold

2 articlesLatest June 2026
Section 149(1)(b) IT Act | Notice u/s 148 Invalid If Escaped Income Below ₹50 Lakh Without Asset Representation : ITAT Delhi
Case Law Analysis
|Income Tax Appellate Tribunal

Section 149(1)(b) IT Act | Notice u/s 148 Invalid If Escaped Income Below ₹50 Lakh Without Asset Representation : ITAT Delhi

ITAT Delhi quashes reassessment proceedings where the escaped income was below ₹50 lakh and not represented by assets, holding that Section 149(1)(b) preconditions were not met. The ruling reinforces strict compliance requirements for reopening assessments beyond three years, impacting taxpayers facing similar notices.

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.

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