#income tax act 1961
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Writ not entertained as alternate remedy of appeal available against order and notices issued u/s 153C

Deletion of understated sale consideration by CIT(A) without dealing in fundamental aspects cannot be countenanced in law

Club Admission Fees for Corporate Membership for business purposes: Revenue, Not Capital Expenditure

Revisionary order passed u/s 263 without granting an opportunity of being heard is unsustainable

Disallowance u/s 57(iii) just because interest earned not equal to percentage of interest expenditure incurred unsustainable

Disallowance u/s 14A cannot be more than exempt income

Disallowance of foreign travel expenditure justified as business expediency not proved

Petition premature as objections can be raised before assessing authority

Important Points Related To Income Tax Compliance for Charitable & Educational Institutions AY 2023-24

Addition u/s 69A deleted as receipt of gifts in cash on various occasions is common in India

Madras HC: Delay in Filing Tax Application to Be Reviewed

Assessment Order Challenged in Writ Petition Dismissed by Madras HC

Rule 17AA: Key Insights, Compliance, and Implications

Need of Simplifying Direct Tax Structure In India: A Critical Analysis
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.
