#income tax act 1961
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Allahabad HC Scrutinizes Transfer of Tax Assessment Jurisdiction

Issuance of Letter of Comfort to banker of AE doesn’t constitute international transaction u/s. 92B: ITAT Mumbai

Denial of exemption u/s. 54 due to mistake committed by developer unjustified: ITAT Mumbai

Interest expense not allowed as borrowed funds used for earning exempt income: Bombay HC

Revision order passed u/s. 263 unacceptable as based on reassessment order which itself is unsustainable: ITAT Delhi

Eligible unit deduction u/s. 80IA of the Income Tax Act allowable on gross basis: ITAT Delhi

Section 43B(h) of Income Tax Act, 1961 and MSMED Act, 2006

Separate adjustment on outstanding receivables unjustified when working capital adjustment is factored in pricing

No Section 271FA Penalty if there was a reasonable cause for failure

If Receipt Isn’t Taxable for Recipient, TDS Credit Can’t Be Denied: ITAT

Section 11 exemption cannot be denied for delay in Audit Report (Form 12B) submission

Form 10BA filing Mandatory to claim Section 80GG Deduction: ITAT Bangalore

Whether Automation has helped either Income Tax Assessees or Department

ITAT Upholds Penalty for Loan Repayment in Cash Despite Poor Cheque Clearance History
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.
