#income tax act 1961
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De novo adjudication ordered as CIT(A) passed ex-parte order due to non-appearance

Addition for cash payment to builder in succeeding AY cannot be made in AY in dispute

Taxation and Treatment of Stock Market Investments

Addition u/s 68 unsustainable as genuineness, identity & creditworthiness of creditors proved

Disallowance of Payment for PF & ESI Employee Contributions Beyond Due Date (Section 36(1)(va))

Addition in case of bogus purchases restricted only to the extent of profit element

Burden to establish genuineness of deposit during demonetization period lies on assessee

Rejection of books of accounts of corporate assessee cannot be done in light manner

Interest paid for loan taken to pay compensation as part of family arbitration award cannot be claimed as deduction u/s 48

Interest earned from nationalized banks not allowable as deduction u/s 80P

Reopening u/s 148 unsustainable as relevant income already reflected in return

Reopening of assessment before disposing of objections filed by assessee is unsustainable

Debt Mutual Funds: Taxation, Returns and Benefits

Expenditure for acquisition of individual club membership is not allowable
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.
