Escaped Income Below ₹50 Lakh Threshold: HC Sets Aside Reassessment Notice

Manjeet Kaur Duggal Vs ITO (Delhi High Court) Delhi High Court, in a significant ruling, has set aside a reassessment notice issued by the Income Tax Department, holding that an Assessing Officer (AO) cannot rely on mere assumptions to determine that income escaping assessment exceeds the statutory threshold of ₹50 lakh required for reopening cases beyond three years. The court emphasized that the quantum of escaped income must be based on the information and material on record, not on conjecture. The judgment was delivered in a petition filed by Manjeet Kaur Duggal challenging a notice issu...