#income tax act 1961
Log in to FollowLatest income tax act 1961 updates, provisions, case laws, compliance requirements, tax implications and expert analysis under Income-tax law on TaxGuru.

Penalty u/s 271(1)(c) unsustainable in absence of recording of satisfaction

Condonation of delay in filing of appeal granted in absence of malafide or deliberate intention

Foreign Currency Convertible Bond expenses included as FCCB premium expense is allowable

Revision u/s 263 rightly invoked as AO failed to inquire valuation of shares vis-à-vis provisions of section 56(2)(viib)

Representation on delay in issue of refunds under Income-tax Act, 1961

Tax Implications of Gifts Received during Weddings in India

Expenses cannot be treated as bogus merely for accounting subsequent to date of search

Penalty u/s 271(1)(c) towards addition not made voluntary is justified

Deduction u/s 80P(2)(d) available to co-operative society towards interest earned from co-operative banks

Gift for personal use from family members doesn’t require any special occasion

Registration u/s 80G(5)(vi) denied as agreement likely to give benefit to trustees

Penalty u/s 271D leviable on failure to establish reasonable cause for taking cash loans

Non-Deductible Expenses: An Insight into Income Tax Regulations

Wrong allotment of two PANs cannot set assessee as non-filer for one PAN as return filed via other PAN
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.
