#income tax act
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ITAT Denies Exemption u/s 10(38) for Sham Transaction with Paper Companies

Disallowance of interest u/s 36(1)(iii) restricted to borrowed amount not used for business

ITAT Upholds Penalty for Income Concealment Despite Retracted Confession

New CBDT Rule 16D & Form No. 56F for Section 10AA Deduction

No addition on account of Royalty Income received by UK Telecom Company from Indian Telecom Company for rendering roaming services to customers abroad

Section 50C not apply to property purchased/ sold as business property

Confirmation of addition by CIT(A) in absence of any evidence u/s 69A justified

Addition u/s 68 impermissible as income estimated u/s 44AD of the Income Tax Act

Section 40A(2) governs allowability of expenditure relating to specified domestic transaction

Revenue cannot compute notional interest u/s. 13(2)(a) of Income Tax Act

TDS u/s. 194H not deductible as payments to gateway providers are not brokerage

Issuance of notice and passing of order against non-existent entity is bad-in-law

Mechanical issuance of notice u/s 148 of the Income Tax Act is unsustainable

Contribution received from commodity exchange exempt i/s. 10(23EC) of Income Tax Act
Explore the latest income tax act 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.
