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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


Daily Backup Dilemma: Decoding “Electronic Mode” vs. “Computer System” under Income Tax Act 2025.

Income Tax : The article argues that the daily backup requirement under Rule 46(8) applies only to books maintained in electronic mode, not mer...

June 13, 2026 3 Views 0 comment Print

Restricted Stock Units Taxation in India: Foreign Tax Credit, Form 67 & Reporting

Income Tax : Judicial authorities have held that Foreign Tax Credit is a substantive right and cannot be denied merely due to procedural delays...

June 13, 2026 33 Views 0 comment Print

Supreme Court Drew Tax-Fee Line Due to Quid Pro Quo

Income Tax : Supreme Court held a levy is a fee only when linked to a specific service or benefit. Absence of quid pro quo makes it a tax, rega...

June 13, 2026 333 Views 0 comment Print

TDS on Residential Rent paid by companies : 2% vs 10% rule

Income Tax : Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct...

June 12, 2026 2280 Views 0 comment Print

ITAT Allows Final Section 35D Deduction and ESOP Recharge Expense

Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...

June 12, 2026 186 Views 1 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 6091 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 249 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 1683 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 3774 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 3975 Views 0 comment Print


Latest Judiciary


Bombay HC Quashes Reassessment as Broken Period Interest Deduction Was Already Settled by SC

Income Tax : The Bombay High Court held that reassessment proceedings could not be initiated on the issue of broken period interest when the le...

June 13, 2026 48 Views 0 comment Print

ITAT Remands 12AB & 80G Applications as CIT(E) Orders Lacked Clarity on Compliance

Income Tax : ITAT Delhi remitted matters relating to sections 12AB and 80G after finding that the impugned orders did not clearly establish whe...

June 13, 2026 60 Views 0 comment Print

Pune ITAT Slams Revenue for Denying Wrong Deduction: Interest from Bank Deposits Eligible for Section 80P(2)(a)(i)

Income Tax : The Tribunal held that interest earned from surplus funds deposited with banks qualifies for deduction under Section 80P(2)(a)(i)....

June 13, 2026 15 Views 0 comment Print

ITAT Sustains 50% Disallowance as Taxpayer Failed to Prove Business Utility of Consultancy Fees

Income Tax : ITAT Delhi held that professional fees claimed for raising working capital limits could not be fully allowed as the taxpayer faile...

June 13, 2026 57 Views 0 comment Print

Petrol Pump Cash Turnover During Demonetisation Cannot Be Ignored: ITAT Dehradun

Income Tax : The ITAT Dehradun held that cash turnover in a petrol pump business during demonetisation could not be disregarded entirely. Consi...

June 13, 2026 57 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 46761 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 612 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 516 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 189 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 159 Views 0 comment Print


Penalty u/s 271(1)(c) of Income Tax Act not leviable for mere rejection of claim

March 11, 2023 1761 Views 0 comment Print

ITAT Ahmedabad held that as all the particulars duly furnished by the assessee relating to source of investment, mere rejection of the claim of the assessee cannot invite levy of penalty under section 271(1)(c) of the Income Tax Act. Accordingly, penalty deleted.

How to file ITR of past years?

March 11, 2023 78333 Views 2 comments Print

Learn how to file Income Tax Returns (ITR) for past years using the updated ITR-U form, eligibility criteria, late fees, and other important details.

Reassessment unsustainable if full & true material disclosure during original assessment

March 11, 2023 1857 Views 0 comment Print

ITAT Chennai held that both the conditions u/s 147 of the Income Tax Act needs to be satisfied for initiation of re-assessment after four years from the end of the relevant assessment year. Here, as assessee has disclosed fully and truly all the material facts, re-assessment proceedings couldn’t be sustained.

Certain harsh proposals of Finance Bill, 2023 Pertaining to Charitable and Religious Institutions and Trusts

March 11, 2023 6246 Views 0 comment Print

Learn about the harsh proposals of Finance Bill-2023 for Charitable & Religious Institutions & Trusts. Understand the impact & practical challenges.

Once penalty u/s 271AAB applied in search addition, invoking provision of section 115BBE unjustified

March 10, 2023 2853 Views 0 comment Print

ITAT Jaipur held that once penal provisions under section 271AAB of the Income Tax Act are applied in case of search addition, invoking provision of section 115BBE is not in accordance with law and accordingly unsustainable.

Revenue appeal dismissed as tax effect is below prescribed monetary limit

March 10, 2023 3141 Views 0 comment Print

PCIT Vs Urmila RCP Projects Pvt. Ltd. (Jharkhand High Court) Jharkhand High Court dismissed the tax appeal filed by the revenue on the question of maintainability as the tax effect involved in the matter is much below the monetary limit as enumerated in Circular No. 3/2018, Dated: 11/07/2018 read with Circular No. 17 of 2019. […]

Fresh return filing not required if already filed return is to be treated for reassessment

March 10, 2023 3078 Views 0 comment Print

ITAT Delhi held that if already filed return is to be treated for the purpose of re-assessment, then, filing of fresh return on receipt of notice under section 148 of the Income Tax Act is not required.

Validity of substantive addition in one year & protective addition in other year

March 10, 2023 2262 Views 0 comment Print

Microsoft Regional Sales Pte. Ltd. Vs ACIT (ITAT Delhi) While in the A.Y. 2018-19, the protective addition has been made in the hands of the assessee and the substantive addition has been made in the Mol Corporation during the A.Y. 2019-20, the substantive addition has been made in the case of assessee as the case […]

Cash Deposit during Demonetization: ITAT confirm Addition partially in Absence of Statement of Affairs

March 10, 2023 5277 Views 0 comment Print

A. Manoharan Vs ITO (ITAT Bangalore) ITAT observe that the AO has made the addition under Section 69 of the Act of Rs.12,75,802/- for want of proper explanation of cash deposited during demonetisation period. The assessee tried to justify the same by submitted that the assessee had withdrawn cash from his Corporation Bank and Indian […]

Income Tax: Section 271E Penalty cannot be Imposed Mechanically

March 10, 2023 1020 Views 0 comment Print

Devinder Gupta & Sons (HUF) Vs CIT (ITAT Delhi) It is an admitted position that the assessee had taken loan from the lender in the earlier years, a part of which has been repaid during the year albeit in cash. The amount of loan has been consequently reduced. A confirmation whereof from the lender has […]

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