#income tax act 1961
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ITAT Cuttack Quashes Penalty u/s 271D on Wrong AY Basis

Independent enquiry u/s. 23(1)(a) can be made by AO to determine annual value u/s. 22

Reopening notice beyond four years cannot be sustained without non-disclosure

Late Return Filed after Sec 142(1) Notice Held Invalid; No 143(2) Notice Required When Return is Invalid

Fundamental Accounting Concepts Embedded in Income Tax Law

Cost imposed on assessee for non-cooperation and matter restored back

Revision u/s 263 upheld as AO failed to make necessary enquiries: ITAT Pune

No addition of IGST Refund reported in Clause 16(b) of Form 3CD (Tax Audit Report) as same was not taxable u/s 43B

Classical Dance Training is Education, 80G Renewal Remanded ITAT Chennai

Disallowance of Excess Deductions and House Property Loss in revised returns was set aside and remanded back to AO

Circle rate couldn’t be applied as property was sold under distress

Exemption cannot be denied for inadvertent mistake of claiming exemption u/s. 12A instead of 10(23C)(via)

Income Tax Section 2(29) company in which public are substantially interested

Section 54F Deduction Allowed if net consideration Utilised by Due Date u/s 139(4)
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.
