#income tax act 1961
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Change of opinion cannot be basis for reassessment proceedings u/s. 148: Madras HC

Reassessment notice issued by non-jurisdictional AO is bad-in-law

Protection against clutches of 69A not available by mere disclosing and paying tax

Adoption of Percentage Completion Method not justified as Project Completion Method accepted in earlier years

Deduction u/s. 80P(2)(d) towards interest from co-operative bank allowed: Gujarat HC

No penalty u/s 271(1)(c) as ALP recomputed by TPO was invalid as assesee followed prescribed method (TNMM) u/s 92C

Division Bench Allows Income Tax Appeal Despite Delay; Limitation Not a Bar

When Honesty Pays: Income Tax Department’s Action on Fake Claims

12A Registration Sent Back to CIT(E) Due to Technical Lapse: ITAT Bangalore

ITAT Condones Delay, Orders Fresh Look at Modi Trust’s 12A/80G Applications

Income Tax Section 147/144B Order Appealable, Writ Not Maintainable: Calcutta HC

Interest to Partners Allowable Despite No Active Business: ITAT Cochin

ITAT Sends Back TDS Credit Dispute Since AO Didn’t Decide Rectification

Statutory & extra-ordinary remedy cannot be pursued simultaneously: Calcutta 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.
