HC Directs Reopening of Portal to File Revised Return, Condones Delay to Prevent Undue Tax Liability

K. S. Bilawala & Ors. Vs PCIT 17 (Bombay High Court) The Bombay High Court adjudicated a case concerning K.S. Bilawala & Ors., where the petitioners challenged an order rejecting their request to file a revised income tax return for the Assessment Year 2022-23. The petitioners, engaged in land development, had received a compensation of ₹39,07,595 under the Right to Fair Compensation and Transparency in Land Acquisition Act, 2013. However, due to an oversight, this amount was included in their taxable income. Upon realizing the mistake, they sought to revise their return, but the dea...