In a recent ruling, the Delhi High Court decided that the 10-year extension for reopening income tax assessments applies exclusively to cases of significant tax evasion, where evidence of escaped income surpasses Rs 50 lakh. The decision is anticipated to be advantageous for numerous taxpayers, providing them with relief from potential investigations into tax assessments
Tax Assessment Notices Can’t be Issued After Three Years, Where Estimated Concealment of Income is Below Rs 50 lakh: Delhi HC
