News & Media 21st Apr 2026
Our Partner, Rahul Charkha a shares his insight in Business Standard, “Missed tax break on property sale? ITATT allows Section 54 in reassessment.”
He highlighted that the assessing officer is duty-bound to account for statutory exemptions arising from the same transaction. If a reassessment notice under Section 148 has been issued, taxpayers should file a return within the prescribed time and claim the exemption with full disclosure. The return filed in response becomes the operative document.
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