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Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.

Latest Articles


Comprehensive Guide to Maintenance of Books of Accounts

Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...

June 9, 2026 19572 Views 0 comment Print

Taxability of concessional or interest-free loan perquisite by Employee

Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...

June 9, 2026 45966 Views 1 comment Print

Taxation of Employee Stock Option Plan (ESOP)

Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...

June 9, 2026 41598 Views 0 comment Print

Updated Return of Income: Rules, Eligibility and Filing Process

Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...

June 9, 2026 14559 Views 0 comment Print

Understanding TDS on Cash Withdrawals: A Comprehensive Guide

Income Tax : Section 194N requires banks, co-operative banks and post offices to deduct TDS on cash withdrawals above prescribed limits, with h...

June 9, 2026 17163 Views 0 comment Print


Latest News


Income Tax Superintendent Caught by CBI in Bribery Case Linked to PAN Deletion

Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...

June 6, 2026 5998 Views 0 comment Print

ITAT Prioritizes Old Appeals as Rising Pendency Requires Urgent Disposal Measures

Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...

June 5, 2026 213 Views 0 comment Print

Request for Rationalisation and Merger of TDS Return Codes 1023 & 1024

Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...

June 4, 2026 1533 Views 0 comment Print

Reduce CASS 2026 Scrutiny Cases Due to New Income Tax Act Transition Challenges: ITGOA

Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...

May 21, 2026 3660 Views 1 comment Print

Representation for timely release of e-filing utilities for ITR for AY 2026-27

Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...

May 13, 2026 3936 Views 0 comment Print


Latest Judiciary


No Section 271D Penalty if No Assessment Was Made & No Satisfaction Was Recorded: ITAT Delhi

Income Tax : ITAT Delhi quashed a ₹65 lakh penalty under Section 271D after finding that no assessment was made for the relevant year and no ...

June 8, 2026 156 Views 0 comment Print

ITAT Quashes Reassessment as Moratorium Under IBC Barred Fresh Tax Proceedings

Income Tax : The Tribunal examined whether reassessment proceedings could be initiated after the NCLT declared a moratorium under the Insolvenc...

June 8, 2026 84 Views 0 comment Print

Loan Confirmations Alone cannot Prove Creditworthiness of Creditors: ITAT Mumbai

Income Tax : The Tribunal examined whether unsecured loans could be accepted solely on the basis of loan confirmations. It held that confirmati...

June 8, 2026 117 Views 0 comment Print

CSR Expenditure Not Automatically Bar Section 80G Deduction: ITAT Ahmedabad

Income Tax : The Tribunal examined whether donations made as part of CSR obligations could qualify for deduction under Section 80G. It held tha...

June 8, 2026 102 Views 0 comment Print

Gujarat HC Deletes LTCG Addition as Penny Stock Allegation Was Unsupported by Evidence

Income Tax : The Court upheld deletion of the LTCG addition after finding that the Revenue relied on assumptions rather than evidence. Document...

June 8, 2026 120 Views 0 comment Print


Latest Notifications


CBDT Issues Complete Income Tax Scrutiny Guidelines for FY 2026-27

Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...

June 7, 2026 39078 Views 1 comment Print

Income-Tax (Amendment) Commencement Ordinance, 2026

Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...

June 6, 2026 489 Views 0 comment Print

CBDT Notifies Infrastructure Sub-Sectors as Eligible Businesses Under Income Tax Act 2025

Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...

June 2, 2026 462 Views 0 comment Print

CBDT Approves National Institute of Advanced Studies as Scientific Research Institution  

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...

May 30, 2026 150 Views 0 comment Print

CBDT Approves S. Nijalingappa Sugar Institute for Scientific Research Tax Benefit Eligibility 

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...

May 30, 2026 132 Views 0 comment Print


ITAT Remands Section 270A Penalty Case if Quantum Appeal Was Still Pending

June 7, 2026 147 Views 0 comment Print

The ITAT Kolkata set aside the appellate order on penalty under Section 270A and remanded the matter to the CIT(A). The Tribunal held that the penalty issue should be reconsidered along with the pending quantum appeal.

ITAT Deletes Section 69 Addition for YEIDA Payments Explained Through NBFC Funding

June 7, 2026 102 Views 0 comment Print

The Tribunal held that Section 69 could not be invoked where YEIDA payments were recorded in the books and funded through an RBI-registered NBFC. The ruling emphasizes that explained and documented sources of investment cannot be treated as unexplained investments.

ITAT Quashes Reassessment as Reopening Was Based Solely on Borrowed Satisfaction

June 7, 2026 120 Views 0 comment Print

The Tribunal held that reopening under Section 147 cannot rest merely on information received from the Investigation Wing or Insight Portal. Since the Assessing Officer conducted no independent enquiry or verification, the reassessment proceedings were quashed.

ITAT Delhi Deletes Section 44BB Addition as Revenue Failed to Establish PE in India

June 7, 2026 108 Views 0 comment Print

The Tribunal held that offshore supply receipts could not be taxed under Section 44BB where the Revenue failed to prove the existence of a Permanent Establishment in India. The addition of Rs. 99.50 crore was therefore deleted.

Non-Realization of Sale Consideration Cannot Delay Capital Gains Tax: ITAT Ahmedabad

June 7, 2026 114 Views 0 comment Print

ITAT held that execution and registration of a sale deed completes the transfer for capital gains purposes. Delayed receipt of sale consideration or dishonoured cheques cannot postpone taxability when the registered transfer remains valid.

Cash Payments for Paddy Purchase Allowed as Transactions Fell Under Rule 6DD Exceptions

June 7, 2026 105 Views 0 comment Print

The ITAT Kolkata held that cash payments made through agents for procuring paddy from farmers were covered by Rule 6DD exceptions. Consequently, the disallowance under Section 40A(3) was deleted.

Reassessment Order Set Aside Despite Service at PAN Address as Effective Hearing Was Not Granted

June 7, 2026 114 Views 0 comment Print

The Court held that although notices were sent to the address available in PAN and passport records, the reassessment order could not stand because the assessee was not given an effective opportunity of hearing. The assessment, demand notices, penalties, and recovery proceedings were set aside.

ITAT Deletes Unexplained Investment Addition as Payments Were Fully Traceable Through Banking Channels

June 7, 2026 105 Views 0 comment Print

The ITAT Mumbai held that the assessee had satisfactorily explained the source of Rs. 1.25 crore through bank records, PPF withdrawals, and documented fund movements. Since the transactions were verifiable through banking channels, the addition under Section 69 was deleted.

ITAT Deletes Section 68 Addition as No Share Capital Was Received During the Year

June 7, 2026 99 Views 0 comment Print

The ITAT Kolkata found that the assessees share capital remained unchanged throughout the year and no fresh capital was received. As a result, the addition under Section 68 for alleged unexplained share capital was deleted.

ITAT Delhi Allows Bad Debt Deduction as Valid Book Write-Off Is Sufficient

June 7, 2026 153 Views 0 comment Print

ITAT Delhi held that a bad debt deduction cannot be denied once the debt is validly written off in the books of account. The Tribunal ruled that proof of actual irrecoverability was not required in view of CBDT circulars and judicial precedent.

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