ITR Filed? Don’t Relax Yet! What Every Taxpayer Should Do After Filing the Return
ITR Filed? Don’t Relax Yet! What Every Taxpayer Should Do After Filing the Return For millions of taxpayers, clicking the “Submit Return” button feels like crossing the finish line. In reality, it is only the end of the first lap. Filing the Income-tax Return fulfils one important responsibility, but it also marks the… […]
Section 263 Cannot Override Section 153A for Unabated Years Without Incriminating Material: Bombay High Court Reaffirms Abhisar Buildwell Principle
Section 263 Cannot Override Section 153A for Unabated Years Without Incriminating Material: Bombay High Court Reaffirms Abhisar Buildwell Principle PCIT v. Surendra L. Hiranandani (Bombay High Court, 2026) – A Landmark Decision on Section 263, Section 153A & Search Assessments Search and seizure assessments under Section 153A of the Income-tax Act have always been one of… […]
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Why Is Your Tax Software Still Computing Indexation? It May Actually Be Saving You Tax If you have recently sold a plot of land or a building acquired many years ago, you may have noticed something rather puzzling while preparing your Income Tax Return. Your tax software is still calculating the Indexed Cost of… […]
Redeveloped Flat Sold Soon After Possession? ITAT Holds Holding Period Starts from Development Agreement, Not Possession Date
Redeveloped Flat Sold Soon After Possession? ITAT Holds Holding Period Starts from Development Agreement, Not Possession Date Urban redevelopment has become a common feature across metropolitan cities, particularly Mumbai. Thousands of flat owners surrender their old premises to developers and receive larger redeveloped flats after completion of the project. One recurring tax question in such… […]
Wrong Reassessment Procedure Can Nullify the Entire Case: Mumbai ITAT Quashes Political Donation Reopening
Wrong Reassessment Procedure Can Nullify the Entire Case: Mumbai ITAT Quashes Political Donation Reopening Keywords: Section 148A political donation, bogus political donation reassessment, Section 80GGC reassessment, Section 148A proviso, search-based reassessment, Mumbai ITAT Amit Pahuja, reassessment barred by limitation, Finance Act 2021 reassessment, Section 148 notice, Income Tax reassessment. Can the Income Tax Department Follow the… […]
Wrong Political Donation Claim Doesn’t Automatically Mean 200% Penalty: Ahmedabad ITAT Cancels Penalty Under Section 270A
Wrong Political Donation Claim Doesn’t Automatically Mean 200% Penalty: Ahmedabad ITAT Cancels Penalty Under Section 270A Keywords: Section 270A penalty, bogus political donation, Section 80GGC deduction, misreporting of income, penalty for political donation, Section 270AA immunity, Ahmedabad ITAT Section 270A, penalty deleted, Income Tax penalty, Niket Maheshbhai Shah case. Can the Income Tax Department Levy a… […]
Finance Act 2026 Cannot Revive Invalid Reassessment Notices: Telangana High Court Upholds ITAT Order
Finance Act 2026 Cannot Revive Invalid Reassessment Notices: Telangana High Court Upholds ITAT Order Keywords: Finance Act 2026 reassessment, JAO reassessment notice, Faceless Assessing Officer, Section 148A notice jurisdiction, Telangana High Court reassessment, faceless reassessment, Section 148 notice, reassessment quashed, PCIT v Vinod Ojha, Income Tax reassessment jurisdiction. Can a Later Amendment in the Law Validate… […]
Accepted Sales Mean Purchases Cannot Be Ignored: ITAT Restricts Bogus Purchase Addition to 1%
Accepted Sales Mean Purchases Cannot Be Ignored: ITAT Restricts Bogus Purchase Addition to 1% Can the Income Tax Department Treat Purchases as Bogus When the Corresponding Sales Are Accepted? Allegations of bogus purchases continue to be one of the most litigated issues under the Income-tax Act. Quite often, the Investigation Wing identifies certain suppliers as… […]
Can the Income Tax Department Make New Additions in Reassessment If the Original Reason for Reopening Fails? Bangalore ITAT Says No
Can the Income Tax Department Make New Additions in Reassessment If the Original Reason for Reopening Fails? Bangalore ITAT Says No Keywords: reassessment under Section 147, Section 147 jurisdiction, reassessment addition, original reason for reopening fails, Section 54 disallowance, ITAT Bangalore reassessment, Income Tax reassessment law, fishing inquiry reassessment, Section 148 notice, reassessment jurisdiction. No Addition… […]
Can a Delay in Filing an Income Tax Appeal Be Condoned If Your Auditor Failed to File It? Kerala High Court Says Yes—If the Explanation Is Genuine
Can a Delay in Filing an Income Tax Appeal Be Condoned If Your Auditor Failed to File It? Kerala High Court Says Yes—If the Explanation Is Genuine Keywords: condonation of delay ITAT, delay in filing appeal before ITAT, auditor failed to file appeal, Kerala High Court condonation of delay, sufficient cause under Income Tax Act, bona… […]
