#income tax act 1961
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Compensation for 10-Year Business Inactivity Is Capital Receipt

Reopening on ‘Borrowed Satisfaction’ Instead of ‘Independent Satisfaction’ is Unlawful

Issuing Final Assessment Order Without Section 144C Compliance Unlawful

Section 154 Notice can be challenged under Article 226 of Constitution of India

Unjustified Addition under Section 68: Creditworthiness Established

Delay in filing of an appeal with a plea of waiting for outcome of judicial decision not condoned

No condonation for wrong legal advice ground taken by commercial entity: ITAT

Delhi HC deletes addition for unsecured Loan which was duly substantiated

Delhi HC: Exclusion of OTL Comparable – ITAT to Decide

Initiation of reassessment proceedings u/s. 147 based on incorrect facts is invalid

Ad-hoc disallowance of expenditure without any basis is unsustainable in law

Notice for Reassessment Sent to Registered Email Valid: Kerala HC

Writ not entertained as alternate remedy of appeal available against order and notices issued u/s 153C

Deletion of understated sale consideration by CIT(A) without dealing in fundamental aspects cannot be countenanced in law
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.
