#income tax act 1961
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Assessment u/s 153A passed with prior approval u/s 153D cannot be revised

Deeming fiction of section 50 cannot change long term assets to short term capital assets

Section Registration 12AB Cannot Be Cancelled for Past Alleged Misdeeds: ITAT Delhi

Tribunal Condones Absence During Audit Rush, Orders Fresh Assessment

ITAT Jaipur Allows Section 54B Deduction for Investment in Spouse’s Name

ITAT Jaipur quashes Reassessment Beyond Six Years for Being Time-Barred

Tribunal Accepts Non-Tech Savvy Assessee’s Plea, Condoning Delay & Ordering Reassessment

ITAT Jaipur Remands ₹4.11 Crore Addition Case for Fresh Verification Due to Rule 46A Violation

Income Tax Order Passed After 10 Years is Time-Barred: Telangana HC

Changing Tax Landscape of Buybacks in India

Only Profit on Bogus Purchases Taxable – Full Disallowance Unjustified: ITAT Mumbai

Mechanical Approval Under Repealed Section Invalidates Reopening: ITAT Delhi

Extrapolation cannot be done to assume income without any cogent material

Income Disclosure Does Not Prevent Benami Proceedings: Kerala HC
Explore the latest income tax act 1961 updates on TaxGuru, including relevant Income-tax Act provisions, rules, notifications, circulars, judicial decisions and compliance guidance. The coverage highlights important tax positions, procedural requirements, assessments, deductions, penalties and litigation developments to help taxpayers and professionals understand the practical implications of changes in income-tax law.
