Can't reopen income tax cases below ₹50 lakh after 3 years: HC

The Delhi High Court has held that the extended 10-year period for reassessment of income tax cases would only apply in cases where alleged concealed income is ₹50 lakh or above. In cases below ₹50 lakh, the time limit for reassessment remains three years, the court said. The ruling will apply to notices sent on or after April 1, 2021.