#income tax act 1961
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CBDT Extends Income Tax Refund Claim Processing Deadline

Second proviso to section 40(a)(ia) is declaratory and as retrospective effect from 01.04.2005

Fees for Share Purchase Agreement Drafting is Revenue Expenditure: ITAT

Finance costs having direct nexus with business is allowable as deduction u/s 36(1)(iii)

Taxation of Debt Mutual Funds

Long Term Capital Gain Tax Exemption by investment in Section 54EC Bonds

Is Income Tax Section 36(1)(viia) Applicable to Co-Op Societies Too?

Penalty u/s. 271(1)(c) unsustainable in absence of concealment of income or furnishing inaccurate particulars

Addition u/s. 2(22)(e) as deemed dividend unsustainable as debit balance was only an inadvertent error

Passing of assessment order two years after Dispute Resolution Panel direction is time barred

Initiation of prosecution proceedings u/s 276CC in absence of any demand is unsustainable-in-law

Donations cannot be considered as anonymous u/s. 115BBC as details of donors provided

Interest expense for amount advanced to subsidiary out of commercial expediency allowable

Deduction u/s 80P(2)(d) was allowable on interest income received from Co-Operative Bank
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.
