#income tax act 1961
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Reassessment notice was invalid if it was issued beyond the calculated “surviving time” or “last date” time limit

Loss on foreign currency derivative transaction and exchange rate difference allowed as expense

Final assessment order beyond period prescribed u/s. 144C(13) is barred by limitation

Notional interest disallowance u/s. 36(1)(vii) quashed as interest on borrowed fund allowable as revenue expense

STCG tax paid u/s. 111A cannot be reclassified u/s. 68 r.w.s. 1115BBE without any basis

Section 12AB Renewal for Small Charitable Trusts: 5-Year vs. 10-Year Validity

ITAT Chennai Deletes Rs. 8 Lakh Addition for Cash Deposit from Casuarina Tree Sale Income

Directors’ Bonus vs. Dividend Misclassification: ITAT Orders Fresh Examination

Co-owned property, income tax additions must be limited to assessee’s share: ITAT Mumbai

Saif Ali Khan Wins Tax Appeal as ITAT Mumbai Strikes Down Defective Reassessment

Addition Based on Third-Party Excel Sheet Without Evidence of Payment Deleted by ITAT

Stamp Duty Charged at Residential Rates on Agricultural Land: ITAT Delhi Remands Section 56(2)(x)(b) Addition

Free Flat Receipt Not Taxable in AY 2007-08: Section 56(2)(v) Covered Only Money

ITAT Deletes Addition of Cash Deposits During Demonetisation, Accepts Rental Income Source
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.
