ITR-U After Reassessment Notice? Budget 2026 Proposal Explained with Tax Cost & Penalty Protection

CA Varun Guptapro badge , Last updated: 07 March 2026  
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1. Why this proposal matters for reassessment litigation The Finance Bill, 2026 proposes an important change whereby an assessee may be permitted to file an Updated Return (ITR-U) even after initiation of reassessment by issuance of notice under section 148 . This proposed mechanism is intended to

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CA Varun Gupta
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Category Income Tax   Report

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