#income tax act 1961
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Addition Based Solely on Assessee’s Admission Without Evidence Not Sustainable: Rajasthan HC

Section 54F Exemption Fully Allowed as Son Listed as Proforma Purchaser: ITAT Pune

Assessee Must Prove Identity, Creditworthiness of Loan Creditor & Genuineness of Transaction U/s. Section 68: ITAT Delhi

Importance of Tax Compliance for Indian Startups & SMEs

Filing of Form 10B only directory and not mandatory: ITAT Bangalore

Assessment of Search & Seizure: Concept of Block Assessments

Additional document having material impact on proceedings needs verification hence matter remanded: Madras HC

Assessment Order passed Without Considering Submission due to approaching Deadline: HC set-aside

No applicability of sec. 115JB(2)(b) to Union Bank due to non-company status under Companies Act

Revision u/s. 263 beyond specific reasons recorded for reopening unjustified: ITAT Ahmedabad

Evidence reconciling discrepancy in 26AS and books not submitted before CIT(A) hence matter remanded

Tribunal not empowered to recall or review its own order: ITAT Hyderabad

Reopening of assessment based on DVO report without application of mind unsustainable: Delhi HC

Holding company can rework value of investment held in subsidiary company: ITAT Delhi
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.
