#income tax act 1961
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Budget 2024 Proposals: GST & Income Tax Amendments

Alleged circular transactions & Bogus Invoicing: HC upheld validity of reassessment proceedings

Judicial Interpretation of Income Tax Law in India

LTCG on Shares: Assumptions without substantial evidence of error shouldn’t trigger action u/s 263

Section 263 should not be exercised at instance of assessing officer

Loss of penny stock: Section 263 revision not valid if twin conditions not fulfilled

Assessee Proves Shareholder Identity and Creditworthiness, Section 68 Application Unjustified

No Addition for Share Capital & Premium from Group Companies with Common Directors/Shareholders

No section 68 addition based on mere retracted statements without corroborative evidence

HC directs AO to consider objection of Assessee before finalising Assessment Order

Bombay HC Upholds Conditional Stay for Vodafone, Modifies Guarantee

Tax Deducted At Source Under Section 194C on Payment To Contractors

Detailed material or evidence need not be supplied at initial stage of Section 148A notice

Alleged Bogus LTCG: AO’s Non-Addition Not Automatically makes order Erroneous
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.
