#income tax act 1961
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Income-tax Act, 2025: A New Era in India’s Taxation System

Higher tax rate of 60% u/s. 115BBE doesn’t apply to transactions prior to 01.04.2017: ITAT Chennai

Where non-submission of documents led to Best Judgment Assessment, HC set aside order subject to 15% deposit

Order passed beyond time limit prescribed u/s. 144C(13): Karnataka High Court

TDS u/s. 194J not deductible on payment of Franchise Expense by liquor company

Taxation Laws (Amendment) Act, 2025

Sale consideration received from Vintage Cars was taxable unless assessee proved that car was used as personal asset

Disallowance of claim of expenditure cannot be basis for levy of penalty u/s. 270A: ITAT Jaipur

Taxation under Income from Other Sources

Accommodation entry addition upheld as shares purchased in off market mode

Addition u/s. 69A not sustained as cash deposited out of business proceeds: ITAT Ahmedabad

Writ against assessment order u/s. 147 dismissed due to availability of alternative remedy

Income from Other Sources: Complete Guide to India’s “Catch-All” Tax Category

Proceedings u/s. 144C has to be concluded within limitation prescribed u/s. 153(3)
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.
