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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


Don’t Blindly Trust Form 16: One Small Error Can Trigger a Huge Tax Demand

Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...

June 15, 2026 828 Views 0 comment Print

Advance Tax Provisions, Challan, e-payment Utility & Examples

Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...

June 15, 2026 195087 Views 14 comments Print

Income Tax Offences liable to prosecution

Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...

June 15, 2026 58748 Views 4 comments Print

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 65032 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 117 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 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 1743 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 3816 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 3999 Views 0 comment Print


Latest Judiciary


Reassessment Invalid as AO Made No Addition on Recorded Reasons for Reopening: ITAT Delhi

Income Tax : The Delhi ITAT held that additions made on transactions unrelated to the reasons recorded for reopening were beyond the Assessing ...

June 15, 2026 18 Views 0 comment Print

ITAT Restores Section 80G Application as Section 12AB Registration Was Already Directed

Income Tax : The ITAT Chandigarh held that once registration under Section 12AB had been directed to be granted, the primary basis for rejectin...

June 15, 2026 24 Views 0 comment Print

ITAT Quashes Section 153C Assessments as Block Period Must Be Counted From Satisfaction Date

Income Tax : The Delhi ITAT found that the Assessing Officer lacked legal authority to reopen assessment years lying outside the ten-year block...

June 15, 2026 36 Views 0 comment Print

ITAT Remands Cash Deposit Addition Case due to Lack of Merit-Based Adjudication

Income Tax : ITAT Chennai restored the matter to the Assessing Officer after finding that the assessment and appellate proceedings were conclud...

June 15, 2026 36 Views 0 comment Print

ITAT Allows Set-Off of Amalgamated Company’s Losses as Section 72A Conditions Were Fulfilled

Income Tax : ITAT Kolkata upheld the deletion of disallowance relating to brought forward losses of an amalgamating company after finding that ...

June 15, 2026 45 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 48030 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


Reassessment due to change of opinion is impermissible

November 17, 2022 2643 Views 0 comment Print

Delhi High Court held that reassessment proceedings cannot be initiated by mere change of opinion of the Assessing Officer regarding the question of the fair market value or whether the amount paid by the assessee to his sisters was deductible from the total consideration.

Legal/ professional expense for opinion about prospective investment is not capital expenditure

November 17, 2022 1119 Views 0 comment Print

ITAT Delhi held that expenses paid to legal and professionals for an opinion about legal and tax consequences of the prospective investment cannot be considered to be a capital expenditure. Such expenses are revenue in nature.

Merely filing of VAT returns cannot be held to establish genuineness of transaction

November 17, 2022 1047 Views 0 comment Print

Mahalaxmi Dye India Pvt. Ltd Vs ACIT (Delhi High Court) A perusal of the paper book reveals that during the investigation it has been found that M/s Seema Enterprises is not involved in any real business and hence the contention of the learned counsel for the petitioner that it made payments in the course of […]

Corpus donations received by unregistered Trusts are not taxable

November 17, 2022 8487 Views 0 comment Print

ITAT held that Corpus donations received by Trusts, which is not registered u/s.12A/12AA of Income Tax Act, are not taxable as they assume the nature of ‘Capital receipt’ the moment donations are given to ‘Corpus of Trust’

Rule 37BA(3)(ii) allows splitting up of TDS amount over a number of years if corresponding income is assessable over a number of years

November 17, 2022 3834 Views 0 comment Print

Larsen & Toubro Public Charitable Trust L&T House Vs ITO (ITAT Mumbai) Rule 37BA(3)(ii) allows splitting up of TDS amount over a number of years if corresponding income is assessable over a number of years A.R submitted that certain income received by the assessee is split between two or more years under accounting principles. Accordingly, […]

Additional evidences having crucial bearing should not be rejected on technicalities

November 17, 2022 735 Views 0 comment Print

Karam Singh Vs ITO (ITAT Delhi) Assessing Officer made the addition alleging that the assessee did not furnish the required information to prove the loan transaction. However, it is observed, before the first appellate authority, the assessee produced additional evidences, such as, the bank statements of lenders, copy of Income Tax Return etc. to prove […]

What is scrap for one person could be a useful product for another – TCS not deductible

November 17, 2022 951 Views 0 comment Print

In case of the assessee itself if we take the presumption that what the assessee has purchased from RSP is only scrap then he would be selling the same to some other steel manufacturing plant. However, the sales are retail sales. This itself shows that what has been sold by the assessee is not scrap but usable products.

Assessment order void if notice was not served on relevant address

November 17, 2022 3516 Views 0 comment Print

The entire assessment was itself erroneous and bad in law due to non-service of notice to the relevant address of the assessee. The ld. Counsel had not pressed the factual aspect of the assessee. We considered only the legal issue. Accordingly, the assessment order itself is void and liable to be quashed.

If appeal is pending before CIT (A), exercise of section 263 jurisdiction by PCIT would be barred

November 17, 2022 5613 Views 0 comment Print

It is well-settled law that once the proceedings are before Ld. CIT(Appeals) in respect of certain issues, then the same issue again cannot be re-agitated by taking recourse to proceedings under section 263 of the Act as held in the case of CIT v. Vam Resorts and Hotels Private Limited 418 ITR 723 (Allahabad)

Double Taxation Avoidance Agreement (DTAA) between India and USA

November 17, 2022 45675 Views 0 comment Print

Understanding the Double Taxation Avoidance Agreement (DTAA) between India and USA. Learn how this tax treaty helps prevent double taxation on income.

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