#income tax act 1961
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Section 43B deduction cannot be denied merely for not claiming in tax audit report

ITAT allows rectification of mistake of applying registration in Form 10AB instead of Form 10A

Section 271(1)(c) penalty not automatic on mere expense Disallowance or Income Enhancement

Bullion Purchases: LBMA Rates vs. KITCO and Reuters for ALP

Forging amounts to manufacturing within the ambit of Section 80IB: Delhi HC

PCCIT sanction Required for Reopening Notice After 3 Years: Bombay HC

Gross Profit Addition on Bogus Purchases should Align with Genuine Ones

Adhoc Disallowance on Surmises Without Rejecting Books is unsustainable

Post-filing Corrections to Form 35A cannot be treated as filed beyond time limit

Assessment Based on Mere Unverified Third Party Statement Bad in Law: ITAT Mumbai

Section 132(1) search authorization Warrant was qua ‘premises’ & not qua ‘assessee’

Assessment Reopening Limited to Four Years if there was Full Disclosure by Assessee

Non-payment of tax before first appeal filing not fatal if appellant fulfills tax obligation later

STCL Taxable at 15% Can be set-ff against STCG Taxable at 30%: ITAT Mumbai
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.
