Reassessment Initiated Beyond Three Years Is Barred by Limitation When Escaped Income Falls Below Fifty Lakh Rupees
Reassessment Initiated Beyond Three Years Is Barred by Limitation When Escaped Income Falls Below Fifty Lakh Rupees Issue Whether a reassessment notice issued under Section 148 beyond the standard three-year limitation period is legally valid when the actual income escaping assessment is determined to be ₹20 lakhs, falling below the mandatory ₹50 lakh threshold prescribed… Read More »