Sec 149(1)(a) Limitation of 3 Years Inapplicable for Escaped Income Over Rs. 50 Lakhs

Davies Manuel Vs ITO (Kerala High Court) Introduction: The recent judgment by the Kerala High Court in the case of Davies Manuel vs. Income Tax Officer (ITO) delves into the applicability of the limitation period under Section 149(1)(a) of the Income Tax Act when the escaped income exceeds Rs.50 lakhs. This article provides a comprehensive overview of the court’s decision and its implications. Detailed Analysis: Davies Manuel, an individual assessee under the Income Tax Act, faced scrutiny for not filing his income tax return for the assessment year 2016-17. The assessing officer noted c...