#income tax act 1961
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Writ dismissed as alternative remedy u/s. 16 of Black Money Act available: Delhi HC

Capital subsidy to be reduced while computing book profit u/s. 115JB: ITAT Nagpur

Denial of Concessional tax rate under section 115BAB by CPC

Issuance of notice u/s. 148A(b) to non-existing entity is without jurisdiction: Karnataka HC

Recovery proceedings deferred till appeal relating to denial of benefits u/s. 80P is finalized

Treating entire cash deposits as unexplained money unjustified: ITAT Hyderabad

Amount received in advance leviable to tax in the year of its collection: Madras HC

Consequential order passed beyond terms of remand by Commissioner u/s. 263 not justified

Penalty u/s. 271C set aside as penalty order barred by limitation: Delhi HC

Additions u/s. 68 in hands of company set aside no additions made in hands of investors: ITAT Ahmedabad

Assessment u/s. 143(3) based on material searched at third party untenable in law: ITAT Delhi

Completion of construction not required for claiming benefit u/s. 54: ITAT Bangalore

Income Tax exemption Notification for National Aviation Security Fee Trust

Revision u/s. 263 justified due to lack of inquiry and total non-application of mind by AO
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.
