#income tax act 1961
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Exemption u/s. 11 and 12 allowed as application of funds was deployed not to earn income

Addition u/s. 68 not tenable post rejection of books of accounts: ITAT Indore

Bangles, Bills & CBDT: A Love-Hate Triangle

Estimation of 8% profit in contract work for government justifiable: ITAT Pune

Selective Section 69B Addition Demonetization Cash deposit Unjustified: ITAT Ahmedabad

Revision u/s. 263 based on audit objection impermissible: ITAT Chandigarh

No Section 194IC TDS on Alternate Accommodation Charges: ITAT Mumbai

Natural Justice Violation: ITAT Orders Fresh Review of ₹77.47 Crore Section 69C Addition

Subsidy received after commencement of cold chain facility is revenue receipt

Section 44AD: Computation of Business Income on Presumptive basis

Adjustment of Tax Refund Against Demand Unjustified Due to Stay on Coercive Action

Addition merely based on dumb documents/ loose paper not tenable: ITAT Nagpur

Section 68 Addition Unjustified as Loan Genuineness, Lender Capacity & Transaction Proven: Gujarat HC

Re-opening u/s. 147 quashed as not based on tangible material: Madras HC
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.
