#income tax act 1961
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Section 54 Benefit Allowed for Property Purchased Jointly with Spouse

No reassessment proceedings as the limitation period u/s 149 was expired

ITAT Restores case for De Novo Adjudication Due to Insufficient Opportunity by CIT(A)

Bombay HC Remands Assessment After Income Tax Dept Admits Denying Hearing

ITAT Restores Trust’s Registration Application Missed Due to Legal Unawareness

Penalty Unsustainable Once Quantum Assessments Quashed: ITAT Delhi

ITAT Imposes ₹5,000 Cost for Non-Compliance, Allows Fresh Hearing on Trust Registration

ITAT Deletes ₹13.73 Lakh Property Addition After Verifying FD Source

ITAT Kolkata Dismisses Tax Appeal Below ₹60 Lakh Tax Effect

Transport Firm Withdraws ITAT Appeal After Opting Vivad Se Vishwas Scheme

ITAT Remands Demonetization Cash Deposit Addition Case

Natural Justice Violation: Demonetisation Sales Addition Sent Back to CIT(A)

Reassessment Set Aside as JCIT cannot Sanction Notice After 4 Years: Delhi HC

Incentives received under Incentive Scheme are capital receipts hence not taxable
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.
