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   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…

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 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 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…