Escaped income tax

 Yes, as per law no case can be reopened for assessment/ reassessment after 6 years from the last day of concerned assessment year. Hence, any escaped/ concealed income pertaining to any period prior to 31-3-2002 cannot be brought to tax now.

Good. IT officials can protect tax evaders six years. Later they will say law doesn't permit to assess.

Ha Ha... there is other way to look at it. If there is no time limit, the same officials will continue digging old matters and harass people.

As per law no notice for concealment of income can be issued for the Asstt. year 2002-03 by resorting to section 148 of the Income Tax Act, 1961. 

 Please quote section under which more than 6 year old prohibition applies.

Please read section 149 of Income Tax Act, 1961.

 Sec.149 reproduced below. Does it mean that less than 1 lac, no notice/reopening. More than 1 lac, no bar.

Time limit for notice.

149. ³⁷[(1) No notice under section 148 shall be issued³⁸ for the relevant assessment year,

³⁹[(a) if four years have elapsed from the end of the relevant assessment year, unless the case falls under clause (b);

(b) if four years, but not more than six years, have elapsed from the end of the relevant assessment year unless the income chargeable to tax which has escaped assessment amounts to or is likely to amount to one lakh rupees or more⁴⁰ for that year.]

Explanation.In determining income chargeable to tax which has escaped assessment for the purposes of this sub-section, the provisions of Explanation 2 of section 147 shall apply as they apply for the purposes of that section.]

(2) The provisions of sub-section (1) as to the issue of notice shall be subject to the provisions of section 151.

(3) If the person on whom a notice under section 148 is to be served is a person treated as the agent of a non-resident under section 163 and the assessment, reassessment or recomputation to be made in pursuance of the notice is to be made on him as the agent of such non-resident, the notice shall not be issued after the expiry of a period of two years from the end of the relevant assessment year.

Upto four years from end of relevant assessment year, case can be reopened without any income criteria. After four years, case can be reopened only if escaped income is more than Rs One Lakh. After six years, case can not be reopened.

Effectively it is 8 years