Case Law Analysis
|Income Tax Appellate Tribunal
Reassessment Invalid If Income Below ₹50 Lakh | Section 148 Limitation : Income Tax Appellate Tribunal
ITAT holds that reassessment proceedings under Section 148 are barred if escaped income is below ₹50 lakh and notice issued after March 31, 2021, for AY 2014-15. Key limitation rule clarified.