#income tax act 1961
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Order passed u/s. 263 without discussing or rebutting arguments of assessee not sustainable: ITAT Ahmedabad

Interest from co-operative bank eligible for deduction u/s. 80P: ITAT Nagpur

Penalty u/s. 271E in absence of any repayment of loan not leviable: ITAT Kolkata

Notice u/s. 153C beyond six years prior to relevant searched A.Y. is non-jurisdictional

Addition in assessment u/s. 153C in unabated years without incriminating material not sustainable

Delay of 244 days due to genuine hardship faced by assessee condonable: ITAT Ahmedabad

Entertaining claim of deduction otherwise than a revised return not permissible: ITAT Chennai

Material indicating purchase from non-existing entities can be basis for reassessment u/s. 148

AO required to pass order within time limit prescribed u/s. 153 pursuant to remand by ITAT

Revenue appeal allowed in claiming exemption u/s. 10(38) by manipulating share price of SRK Industries

TNMM appropriate method for determining Arm’s Length Price of management fees

Addition towards capital gain not sustained as assessee’s involvement in price rigging not proved

Orders passed mentioning old address of petitioner liable to be set aside: Kerala HC

Denial of exemption u/s. 11 by CPC in rectification petition not justified: ITAT Ahmedabad
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.
