#income tax act 1961
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Additional income once accepted cannot be later rectified and taxed as per section 115BBE

Gift from HUF not to be added to income of Karta of such HUF

Business promotion expenditure incurred during the course of business is allowable expenditure

Assessee being a local authority is not chargeable to Income tax

Order passed against a non-existing company is liable to be quashed

Addition sustained as onus not discharged by the assessee

Taxing under capital gain can be burdened only when cost of acquisition is established

Trade payable duly explained hence addition u/s 68 unjustified

Addition u/s 68 sustained as identity and creditworthiness of lenders not proved

Initiation of reassessment in the name of non-existent amalgamated company is without jurisdiction

Taxability of Deemed Dividend under Section 2(22)(e) of Income Tax Act

Addition u/s 69C simply based on scribbling notes without any other evidences is unwarranted

Arrears Relief calculator U/s 89(1) of Income Tax Act, 1961

Now get ₹25 lakh exemption on your leave encashment !!
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.
