#income tax act 1961
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No Addition for Off-Market Penny Stocks if Purchase is Justified & Proper Documentation is Provided

Income Tax Recovery proceedings cannot proceed During Pending Appeals: Gujarat HC

TP Adjustment of ₹166.09 Crore for Non-UK Royalties payment Remanded back to TPO

Electronic Filing of Forms 3CEDA and 3C-O from Oct 31, 2024

Condonation of Delay for AY 2023-24 – Section 80P Deduction Claims

Re-verify Section 69C interest expense disallowance: ITAT Ahmedabad

Disallowance of Dividend Income was deleted as sec. 44 overrides sec.14A in computation of income for Insurance Companies

Non-disposal of application for registration u/s 12AA within six months didn’t result in “Deemed Registration”

CBDT notified ACIT/ DCIT as prescribed authority for issuance of notice u/s. 143(2): Delhi HC

TP assessment by TPO proceeded on incorrect appreciation of nature of service hence matter restored back

Profit attribution to Permanent Establishment in India is fact based: Delhi HC

Unreasoned ex-parte order is against principal of natural justice: ITAT Mumbai

Deduction u/s. 80P(2)(d) admissible on interest derived from deposits with co-operative banks

ITAT Remands Case to AO for Fresh Adjudication on Loan Credibility
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.
