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Valuation of Securities under Income Tax Act and challenges

Income Tax : Explore the complexities of securities valuation under the Income Tax Act. Understand the rules, challenges, and practical insight...

April 26, 2024 1818 Views 0 comment Print

Alignment of Section 286 of Income Tax Act with OECD BEPS Action Plan 13

Income Tax : Explore the alignment of Section 286 of the Income Tax Act 1961 with OECD BEPS Action Plan 13, emphasizing Country-by-Country Repo...

April 26, 2024 444 Views 0 comment Print

Understanding Slump Sales: A Comprehensive Guide

Income Tax : Learn about the meaning of slump sale, its framework under the Income Tax Act 1961, constituents of a valid slump sale, and tax im...

April 24, 2024 1098 Views 0 comment Print

Income Tax Act 1961: Features and Objects

Income Tax : Explore the features and objectives of the Income Tax Act, 1961 in India. Understand its comprehensive laws, objectives, and signi...

April 24, 2024 483 Views 0 comment Print

Whether Issuance of notice u/s section 263 after new Faceless Assessment Scheme justified?

Income Tax : Explore the necessity of issuing notices under Section 263 post the Faceless Assessment Scheme introduction. Analyze the schemes e...

April 23, 2024 3444 Views 0 comment Print


Latest News


Join Live Webinar and get Book on Section 43B(h)

Income Tax : Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down ...

April 29, 2024 5226 Views 1 comment Print

Representation on Incorrect/Delay In Submitting Application U/S 12A(1)(ac)

CA, CS, CMA : Explore the challenges faced by Charitable Trusts due to delays or errors in submitting applications under Section 12A(1)(ac) of t...

April 8, 2024 9108 Views 1 comment Print

FADA requests relief for linking Aadhaar with PAN for automobile dealerships

Income Tax : FADA presents a case under section 119(2)(b) of the Income-tax Act, seeking relief for linking Aadhaar with PAN for automobile dea...

April 6, 2024 165 Views 0 comment Print

Guide to Responding to Income Tax Notices: e-Verification Scheme 2021

Income Tax : Learn how to effectively respond to income tax notices and letters under the e-Verification Scheme 2021. Complete guide for taxpay...

February 27, 2024 3642 Views 0 comment Print

Live webinar – Solution to Serious Tax Problems – Hindi

Income Tax : Discover a solution to serious tax problems in India in Hindi. Join our live webinar to learn about the 12 types of taxes and how ...

February 22, 2024 2445 Views 0 comment Print


Latest Judiciary


Reasoned order of settlement commission cannot be interfered: Delhi HC

Income Tax : Delhi High Court held that acceptance of settlement and order passed by the Income Tax Settlement Commission (ITSC) based on full ...

April 30, 2024 144 Views 0 comment Print

ITAT Dismisses Appeal Due to absence of Reasonable cause for 726-Day Delay

Income Tax : Read the full text of the order from ITAT Chennai dismissing the appeal due to unexplained 726-day delay. Detailed analysis and im...

April 28, 2024 321 Views 0 comment Print

ITAT allows Section 80P(2)(a)(i) deduction on dividend from Chennai Central Co-operative Bank

Income Tax : Read the detailed analysis of Union Bank of India's case vs ITO where ITAT Chennai grants deduction under Section 80P for dividend...

April 28, 2024 375 Views 0 comment Print

ITAT Restores Case: Assessee Denied Opportunity to Cross-Examine Witnesses

Income Tax : In ITO Vs Saivi Finance Pvt Ltd, ITAT Delhi restores the matter back to AO due to denial of natural justice, assessees not given c...

April 28, 2024 375 Views 0 comment Print

Section 143(1) Assessment cannot be Reopened on Mere Suspicion: Bombay HC

Income Tax : Explore how the Bombay High Court ruled against reopening Section 143(1) assessments without valid reasons, safeguarding taxpayers...

April 28, 2024 7854 Views 0 comment Print


Latest Notifications


CBDT Extends Due Dates: Form No. 10A/10AB Filing upto 30th June, 2024

Income Tax : Get insights on Circular No. 7/2024 issued by CBDT, extending due dates for filing Form No. 10A/10AB under the Income-tax Act, 196...

April 25, 2024 21126 Views 0 comment Print

Notification under Section 80G(2)(b) for Shree Ramanuj Kot Trust Indore

Income Tax : Explore the notification under section 80G(2)(b) of the Income Tax Act 1961 for Shree Ramanuj Kot Trust in Indore. Details of vali...

April 23, 2024 297 Views 0 comment Print

CBDT notifies designated authority for sharing information with Uttar Pradesh Govt

Income Tax : Explore the Central Board of Direct Taxes order under section 138(1)(a) of the Income-tax Act, 1961, regarding information sharing...

March 27, 2024 306 Views 0 comment Print

Notification No. 36/2024: Income Tax Exemption- National Mission for Clean Ganga

Income Tax : Explore Notification No. 36/2024 by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, concerning the ...

March 26, 2024 327 Views 0 comment Print

Instructions to AO’s for initiating section 147 proceedings in I.T. e-Verification cases

Income Tax : Learn how to initiate proceedings under section 147 of the IT Act in e-Verification cases. Detailed instructions for Assessing Off...

March 19, 2024 8076 Views 0 comment Print


PCIT Cannot invoke Section 263 jurisdiction Solely Based on Disagreement with AO’s Plausible View

April 4, 2024 231 Views 0 comment Print

Analysis of Satbir Mahato Vs PCIT case by Kolkata ITAT, highlighting the dispute over Section 263 jurisdiction due to plausible views of AO.

CIT(A) Cannot disbelieve Cash Book Solely Based on General Practice

April 4, 2024 339 Views 0 comment Print

Mool Chand Aggarwal Vs ACIT (ITAT Delhi) CIT(A) cannot disbelieve cash book only on the ground that ‘generally individuals do not maintain cash book and it is not mandatory to maintain cash book for the individual’.

AO’s Treatment of Cash Deposits as Unexplained Without Adverse Material Unjustified

April 4, 2024 819 Views 0 comment Print

ITAT Delhi in Preeti Bhardwaj Vs ITO held that AO cannot treat cash deposits as unexplained when assessee has provided the source of cash deposits being cash withdrawals without bringing adverse material.

No Section 56(2)(viib) addition for allotment of equity shares by Subsidiary to holding company at premium

April 4, 2024 1197 Views 0 comment Print

Rugby Regency P. Ltd appeals against denial of depreciation on windmills and addition of income under Section 56(2)(viib) of Income Tax Act. Detailed analysis of the case from ITAT Delhi.

Monthly (April-2024) Legal Obligations + Legal updates for India

April 4, 2024 26199 Views 1 comment Print

Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & statutory changes affecting your business.

Revamping SME Growth: An Overview of New Manufacturing Norms In India

April 4, 2024 339 Views 0 comment Print

Explore the new manufacturing norms (NMN) in India aimed at boosting SME growth. Learn about eligibility criteria, investment thresholds, and benefits for small and medium enterprises.

Revision u/s 263 justified as details not examined by AO: ITAT Mumbai

April 4, 2024 246 Views 0 comment Print

ITAT Mumbai held that non-examination of the details clearly makes the order of AO erroneous and prejudicial to the interest of revenue. Accordingly, PCIT correctly assumed the revisional jurisdiction under section 263 of the Income Tax Act.

TDS was correctly deducted by Hindustan Lever, rules Orissa HC in challenge by Works Contractor for ‘Wheel’, ‘Surf Excel’ and ‘Domex’ Production

April 4, 2024 222 Views 0 comment Print

Assessee-company had entered into a Purchasing Agreement with M/s. Hindustan Unilever Ltd. whose main business was manufacture and sale of detergents, etc.

Shyam Sunder Khandelwal Vs ACIT: Interplay between Sections 147/148 & 153C

April 3, 2024 3603 Views 0 comment Print

Dive into the detailed analysis of the Shyam Sunder Khandelwal Vs ACIT case by Rajasthan High Court, exploring the applicability of Sections 153C and 148 of the Income Tax Act. Understand the implications and conclusions drawn.

No Section 56(2)(x)(b)(B)(ii) Addition for Valuation Difference of less than 10%

April 3, 2024 2646 Views 0 comment Print

ITAT Mumbai ruled that no addition is warranted under Sec 56(2)(x)(b)(B)(ii) of Income Tax Act when difference between purchase value and fair market value is less than 10%.

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