#income tax act 1961
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IT Dept Cannot Reject FMV of Shares Determined by Statutory Methods: Karnataka HC

Section 10(26AAA): ‘Sikkimese’ Definition Limited to Income Tax Purpose

Rajasthan HC Sets Aside Case Transfer Order Due to Unreasonable Notice Period

Resale Price Method most appropriate as assessee acts as distributor and makes no value addition

Income from sale of shares is business income when funds borrowed for trading purpose

Orissa HC Condones 1 Hour, 19 Minutes, 16 Seconds Delay in Audit Report Upload

Reassessment Unjustified If Assessee Uninformed of Bogus Entity in SCN: Delhi HC

No Section 271(1)(c) Penalty for Income Estimation: ITAT Ahmedabad

Income Tax Settlement Cases (Feb-Mar 2021) Deemed Pending: Madras HC

Madras HC Directs Disposal of AY 2019-20 Income Tax Appeal in Four Months

ITAT Pune Remands ₹1.04 Cr Unexplained Cash Case to CIT(A)

MP HC Allows condones delay of 1,797 days in Appeal Filing

Addition merely based on loose paper and documents not sustainable

ITAT Hyderabad Upholds Section 68 Additions, Denies Section 80C deduction
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.
