#income tax act 1961
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Penalty u/s 271D sustainable for contravention of provisions of section 269SS

Addition based on circular made effective on later date not unsustainable in law

Battle on Freebies to doctors before AY 2010-11

Addition of difference in stock & valuation report without credible evidence is unsustainable

Disallowance u/s 40(ia) for non-deduction on social security contribution to expat employees unsustainable

Deduction u/s 43B is allowable in case of interest paid on customs duty

Mere change of opinion cannot be a ground for reopening of assessment

Purchase or Sale of Immovable Property by NRIs

All about tax on distribution of assets on dissolution or reconstitution of firm

Unexplained cash expense addition unsustainable as cash book and cash receipts not doubted

Recorded reasons for reopening can neither be improved nor substituted by an affidavit

Amendment in section 43B – Allowance of expenses on payment basis to micro or small enterprises

Addition u/s 68 unsustainable as identity and creditworthiness of share subscribing companies proved

Benefit u/s 54B not deniable on fact that property was valued as non-agricultural land for stamp paper
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.
