Income Escapement | Value Determined At S.148A(d) Stage Relevant To Determine Threshold U/S 149 Of Income Tax Act: Delhi HC

Delhi High Court ruled that the value determined at the Section 148AD stage (likely related to income escaping assessment) is relevant to determine the threshold under Section 149 of the Income Tax Act for initiating reassessment. Section 149 sets the limit for reopening assessments. The court's decision clarifies that the initial determination of the amount of income that has allegedly escaped assessment is a factor in deciding whether the threshold for reassessment is met.