The Central Board of Direct Taxes (CBDT) has extended the time for filing compliance documents for the purpose of claiming any exemption from capital gains under sections 54 to 54GB of the Income-tax Act, 1961, for such compliances wherein the last date fell between 1st April 2021 to 28th February 2022. Such compliances may now be completed on or before 31st March 2023.
The above extension has been done vide Circular No. 1 of 2023 dated 6th January 2023. This circular further extends the time period which was earlier extended in 2021 vide Circular No. 12 of 2021 dated 25th June 2021.
The above extension has been granted in light of various representations filed before the CBDT in view of the then ongoing Covid-19 pandemic.
AUTHORED BY
More Insights
25 Aug 2026
12
Min Read
A Game of Treasure Hunt: Service of GST Notices and Orders under S. 169 of the CGST Act and the Emerging Split among High Courts
Luxmi Traders addresses a fundamental question in GST adjudication: can a notice or order be treated as duly served merely because it is uploaded on the Common Portal? The Punjab and Haryana High Court held that portal-only service, absent the requisite statutory and notified basis, cannot by itself defeat a taxpayer’s remedies. With Madras and Allahabad adopting different approaches and Delhi subsequently applying Luxmi Traders, the issue reflects a significant divergence in judicial approach awaiting authoritative resolution.
10 Jul 2026
7
Min Read
Faceless Reassessment after S. 147A: What the Supreme Court Did – and Did Not – Decide
The Supreme Court's decision in Tej Pratap Singh does not settle the JAO–FAO controversy. Following Parliament's retrospective insertion of s. 147A, it remands the issue to the High Courts for fresh consideration. Faceless reassessment was never merely about moving tax files from paper to portal; it fundamentally changed the statutory authority responsible for communicating with the taxpayer, examining the record, drafting the order and completing the assessment. The real question now is how far a retrospective legislative clarification can go.
23 Apr 2026
18
Min Read
Mandatory Pre-Deposit for Appeals in Indirect Tax Laws: A Barrier to Justice?
Mandatory pre-deposit has become a defining feature of indirect tax litigation, balancing revenue protection with access to appellate remedies. While the shift to a fixed statutory framework has improved procedural efficiency, it also raises concerns regarding financial barriers and effective access to justice. This insight examines the legal evolution, judicial interpretation, and practical implications of the regime.