#income tax act 1961
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Disallowance u/s 36(1)(iii) unsustainable as advance given during normal course of business

Amount received as consequence of divorce cannot be held as unexplained cash credit u/s 68

Penalty order passed in the name of death person after death is invalid

Penalty u/s 271E leviable as reasonable cause for non-complying with section 269T not shown

There cannot be second round of Section 271(1)(b) penalty for same default

7 Things NGOs Should Consider When Filing Statements of Donations in Form 10BD

Impact of Oath In Income Tax Proceedings

User Guide to Submit Response to Notices & Letters Received under e-Verification Scheme, 2021

Taxability of F&O business under Income Tax Act, 1961

Income generated cannot be held bogus only based on modus operandi

Reopening justified as it is based on material satisfying that income has escaped assessment

Addition of sales reversal entry as unexplained expenditure is unjustified

Penalty u/s 271(1)(c) not sustained as concealment or furnishing inaccurate particulars not proved

Addition towards unexplained cash deposit unsustainable as creditworthiness and genuineness proved
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.
