#income tax act 1961
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Normal period will apply for reopening of assessment where escapement of income is below 50 Lakhs

When Advance Tax Is To Be Paid And If Not Paid By Due Date, What Is Consequence?

Routine support services not taxable as Fees for Technical Services in terms of India-UK DTAA: ITAT Delhi

Amount received as compensation u/s 28 of Land Acquisition Act was taxable u/s 56(2)(viii) r.w.s 145B(1) and not exempt u/s 10(37)

Delay in filing quantum appeal and penalty appeal condoned on demonstrating sufficient cause

Decision favourable to assessee will prevail in case of two contrary decision by non-jurisdictional HC

Penalty not leviable as violation of section 269SS and 269T not justified without clear finding: ITAT Ahmedabad

No Physical Notice in Ex-Parte Proceedings – ITAT Remands Case to CIT(A)

Addition u/s 68 was deleted as no incriminating material found during search for Unabated AY

Dismissal of appeal on account of non-prosecution without deciding on merits unjustified: ITAT Ranchi

Limitation period u/s. 263 would be from date of original assessment order as reassessment order is distinct

Purchase of property wrongly alleged as sale hence matter remanded back: ITAT Delhi

Taxability of buy back at par with Dividend income

Section 69A not invocable as Cash Deposit Sources duly maintained: ITAT Ahmedabad
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.
