The Court ruled that an assessee cannot invoke Section 139(8A) after initiation of assessment proceedings under Section 143(2). It affirmed the disallowance of deductions and held that appeal is the ...

With the December 31 deadline for filing revised income tax returns now over, many taxpayers who later spot missed income or ...

Taxpayers should consider ITR-U if they omitted income, wrongly claimed deductions or exemptions, or made reporting errors ...

The amendment permits taxpayers to file an updated return to reduce overstated losses. This promotes accuracy while preserving restrictions against loss creation or refund ...

Finance Bill, 2026 updates income-tax return rules for reassessment under Section 148, adds a 10 percent levy and clarifies ...