ITAT Rules Reassessment Proceedings Invalid After Finding Section 148 Notice Issued Beyond Three Years Without Meeting Rs 50 Lakh Escaped-Income Threshold:
ITAT Mumbai quashed the reassessment for AY 2018-19, holding that the Section 148 notice issued beyond three years failed to meet the Rs 50 lakh escaped-income threshold and lacked the mandatory Section 151(ii) approval.
ITAT Invalidates Reopening Beyond Three Years
Vanshika verma
Aug 22, 2026Premium
ITAT Rules Reassessment Proceedings Invalid After Finding Section 148 Notice Issued Beyond Three Years Without Meeting Rs 50 Lakh Escaped-Income Threshold
ITAT Mumbai quashed the reassessment for AY 2018-19, holding that the Section 148 notice issued beyond three years failed to meet the Rs 50 lakh escaped-income threshold and lacked the mandatory Section 151(ii) approval.
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Vanshika verma
Content Writer
Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Studycafe
Delhi, Delhi, India
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