#income tax act 1961
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No Income Tax Addition for Assessee Proving Source of Cash Deposits During Demonetization

Order dispatched beyond prescribed time limit is barred by limitation

Deeming section 69 doesn’t apply when source of surrendered income proved to be business income

Interest paid on delayed deposit of income tax not allowable as expenditure

Deduction u/s 80P(2)(d) available to cooperative society in respect of dividend received on shares of cooperative banks

Addition as unexplained cash deposits unjustified as source of cash deposit demonstrated

Overlooking of reply & Denial of sufficient time to respond: HC set-aside order

HC Directs De Novo Consideration Due to Tribunal’s Lack of Detailed Reasoning

AO Can Initiate Reassessment Based on Investigation Wing Info: ITAT

AO’s Addition u/s 68 Unsustainable: Assessee Proves Identity, Creditworthiness & Genuineness – ITAT

Setting off of speculative losses against non-speculative profit unsustainable

Payment of guarantee fee to Gujarat Government is revenue expenditure

Delhi HC Quashes Income Tax Notice Due to Failure to Note Disclosures in ITR

Addition u/s. 69A towards unexplained money based on unsigned unexecuted draft agreement unsustainable
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.
