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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


Power of Commissioner to Reduce or Waive Income Tax Penalty

Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...

June 15, 2026 64879 Views 3 comments Print

Decoding Exempt Incomes Under Income Tax Act, 2025: From Section 10 to 11

Income Tax : Summary: The Income Tax Act, 2025 introduces a significant structural reform by relocating the exempt income provisions previousl...

June 15, 2026 48 Views 0 comment Print

Penalties under Income-Tax Act, 1961

Income Tax : This article outlines major penalties under the Income-tax Act for defaults involving tax payments, return filing, TDS compliance,...

June 15, 2026 113209 Views 2 comments Print

Specified Domestic Transaction- Penalty for Concealment of Income

Income Tax : The article explains how transactions between associated domestic entities exceeding ₹20 crore must comply with arm's length pri...

June 15, 2026 57828 Views 1 comment Print

Interest for failure to Collect/Deduct & for delayed TDS/TCS Payment

Income Tax : This article explains the interest provisions applicable to delays in TDS deduction, TDS/TCS payment and non-payment of tax demand...

June 15, 2026 170812 Views 2 comments 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 6106 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 258 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 1737 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 3810 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 3993 Views 0 comment Print


Latest Judiciary


Entire Unaccounted Sales Cannot Be Taxed as Only Profit Element Is Assessable: ITAT Delhi

Income Tax : The Delhi ITAT held that the full value of unaccounted sales cannot automatically be treated as taxable income. It restricted the ...

June 15, 2026 27 Views 0 comment Print

No addition of capital gain on land as lack of agricultural Income did not alter agricultural character of land

Income Tax : Addition of capital gain was deleted as impugned land being agricultural land situated beyond the prescribed municipal limits and ...

June 15, 2026 45 Views 0 comment Print

ITAT Deletes Section 14A Disallowance as Subsidiary Investment Yielded No Exempt Income

Income Tax : The ITAT held that investments which did not generate exempt income during the year cannot be considered for Rule 8D disallowance....

June 15, 2026 45 Views 0 comment Print

WhatsApp Chats Alone Cannot Justify Tax Additions Without Supporting Evidence: ITAT Ahmedabad

Income Tax : The ITAT Ahmedabad held that isolated WhatsApp messages and electronic communications cannot, by themselves, support additions in ...

June 15, 2026 903 Views 0 comment Print

ITAT Deletes BMA Penalty as Foreign Assets Were Disclosed in Section 153A Returns

Income Tax : ITAT Ahmedabad held that penalty under Section 43 of the Black Money Act could not be imposed when foreign assets were subsequentl...

June 15, 2026 63 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 47979 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 678 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 540 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 198 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 162 Views 0 comment Print


Return Filing is a serious Business & Reporting error cannot be pleaded lightly: ITAT Indore

December 24, 2022 3081 Views 0 comment Print

ITAT held that ITR is a sacred document prescribed in law and reporting-error cannot be pleaded so lightly. The prescribed forms of ITR have suitable columns to furnish the details of cash-balance, this law procedure has been in statute for several years and nobody can dispute it.

No addition can be made in the hands of power of attorney holder

December 24, 2022 2049 Views 0 comment Print

It is trite law that No addition can be made in the hands of power of attorney holder and further revenue has not brought on record any material evidence indicating that ownership of the said land belongs to appellant assesse. Therefore, we hold that the assessment order is passed without jurisdiction.

Residency of Individual Income Tax Act and recent developments

December 24, 2022 14583 Views 0 comment Print

The determination of residency is first step in the whole process of finalizing tax aspect of certain transaction. One need to ascertain that if any income is accrue/arise or deemed to accrue/arise in India in terms of Section 4,5 and 9 of Income tax Act.

Sales tax subsidy is capital receipt and not part of book profit u/s 115JB

December 23, 2022 2382 Views 0 comment Print

ITAT Mumbai held that sales tax subsidy received by the assessee is capital receipt and does not come within definition of income under section 2(24) of the Income Tax Act, 1961 and when, a receipt is not a in the nature of income, it cannot form part of book profit u/s 115JB of the Income Tax Act, 1961.

Addition towards unexplained cash credit u/s 68 unsustainable as identity, creditworthiness and genuineness proved

December 23, 2022 1491 Views 0 comment Print

ITAT Mumbai held that assessee has duly discharged identity, creditworthiness and genuineness of the transactions of receipt of share premium of Rs. 2.25 crore received from 19 share subscribers and hence addition towards unexplained cash credit u/s 68 is unsustainable.

Solitary opportunity of only one day to respond to notice is against principles of natural justice

December 23, 2022 1560 Views 0 comment Print

ITAT Delhi held that a solitary opportunity of one day to respond to show cause notice is in negation of overriding principles of natural justice accordingly revisionary order passed u/s 263 is liable to be quashed and set aside.

Depreciation and maintenance of sports car allowable as used for business purpose

December 23, 2022 2751 Views 0 comment Print

ITAT Mumbai held that action of AO in disallowing 50% of the depreciation and maintenance charges on the sports car is unsustainable as sports car was owned and used for the purpose of business and AO failed to establish that the sports car was not used fully for the purpose of business.

Inadvertent mistake committed while filing return cannot take away rights of assessee

December 23, 2022 7011 Views 0 comment Print

ITAT Rajkot held that department cannot take away rights of the assessee just by inadvertent mistake committed by the assessee at the time of return filing.

Attribution to PE as article 7(1) of DTAA doesn’t apply when foreign enterprise is making loss

December 23, 2022 2094 Views 0 comment Print

Delhi High Court held that as per Article 7(1) of DTAA attribution of profits to Permanent Establishment arises only if foreign enterprise is making a profit. The same is not applicable if foreign enterprise is making a loss.

Deduction u/s 54B ineligible if land not used for agricultural purpose

December 23, 2022 1527 Views 0 comment Print

ITAT Pune held that deduction under section 54B of the Income Tax Act is available only if the land was used for agricultural purpose in the immediate two preceding years. in absence of the same, deduction u/s 54B ineligible.

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