#income tax act 1961
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Kerala HC stays Income Tax Recovery till disposal of Stay Petition

Deemed Short-Term Capital Gains from Depreciable Asset Sale Eligible for Setoff Against Long-Term Capital Loss

Penny Stock Sale Not ‘Unaccounted Income’ if Purchase not doubted

AO treated share purchase bogus for non-submission of Share Certificate: ITAT Directs AO to Re-compute Tax

Receiving funds from a company alone doesn’t imply income evasion

Valid satisfaction note mandatory for initiation of search assessment on ‘other person’: ITAT Mumbai

Section 43B(h) of Income Tax Act, 1961: Analysis & Implications

Appeal filed in manual form instead of online: Kerala HC Condones 141 Days Delay

No Penalty under Section 271B if Penalty Already Levied under Section 271A

Tax Department Shouldn’t Exploit Taxpayers’ Lack of Knowledge: Delhi HC

CIT(A) Cannot Add New Source of Income Without Enhancement Notice

Revision of Reassessment Order Not Valid if no additions were made based on reasons for reopening

No Penalty U/s 271(1)(v) for Bona Fide Mistakes: Mumbai ITAT

ITAT criticises CIT(A) for perfunctory defense & lack of inquiry: Remits Matter to AO
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.
