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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


Why Does India’s ITR Deadline Always Need an Extension?

Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...

June 9, 2026 2997 Views 2 comments Print

TDS Deduction for Specified Senior Citizens (Section 194P)

Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...

June 9, 2026 12759 Views 1 comment Print

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 19740 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 46050 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 41931 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 6007 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 1566 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 3666 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 3939 Views 0 comment Print


Latest Judiciary


ITAT Deletes section 69 Addition as Revenue Failed to Prove Investment in Relevant Year

Income Tax : The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...

June 10, 2026 30 Views 0 comment Print

No Interest Disallowance Without Nexus Between Borrowed Funds & Non-Business Advances: ITAT Lucknow

Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...

June 9, 2026 39 Views 0 comment Print

SC Refuses to Revive Reassessment as Original Scrutiny Had Examined Relevant Transactions & Details

Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...

June 9, 2026 63 Views 0 comment Print

ITAT Kolkata Allows Additional Refund Interest Due to Delay in Giving Appeal Effect

Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...

June 9, 2026 60 Views 0 comment Print

ITAT Delhi Deletes SLS Disallowance as APA Covered Intra-Group Services

Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...

June 9, 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 42813 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 537 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 474 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 153 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 135 Views 0 comment Print


ITAT Restores Section 69 Matter to AO After Ex Parte Assessment and Appeal Orders

June 1, 2026 276 Views 0 comment Print

The assessee challenged an ex parte reassessment order that treated property investment as unexplained under Section 69. ITAT held that adequate opportunity should be provided before sustaining substantial additions and remanded the matter for fresh adjudication.

ITAT Holds Section 80AC Bar No Longer Applies, Restores Section 80P Claim

June 1, 2026 336 Views 0 comment Print

The Tribunal ruled that condonation of delay by the competent authority removes the statutory obstacle created by Section 80AC for late-filed returns. As a result, the assessee’s claim for deduction under Section 80P must be reconsidered in accordance with law.

ITAT Mumbai in AY 2010-11: Extensive Ruling on Banking Taxation Issues

May 31, 2026 996 Views 0 comment Print

State Bank of India Vs ACIT (ITAT Mumbai) The Mumbai Bench of the Income Tax Appellate Tribunal decided cross-appeals filed by a public sector bank and the Revenue for Assessment Year 2010-11. The case involved a large number of recurring banking-taxation issues including pension provisions, depreciation on securities, bad debts, section 14A disallowance, taxation of […]

ITAT Mumbai Sets Aside Assessment as Adequate Hearing Opportunity Was Not Granted

May 31, 2026 435 Views 0 comment Print

The Mumbai ITAT found that the assessment order was passed without granting a reasonable opportunity to the assessee to furnish complete details or avail a hearing. The matter was remanded for fresh adjudication.

ITAT Remands Section 80GGC Claim as Political Donation Verification Was Incomplete

May 31, 2026 1290 Views 0 comment Print

The Tribunal sent the issue of deduction for political donations back to the Assessing Officer after finding that bank transaction details had not been properly verified. Fresh adjudication was directed after giving the assessee an opportunity of hearing.

ITAT Quashes Section 153A Assessment as AY 2010-11 Fell Outside Ten-Year Block Period

May 31, 2026 492 Views 0 comment Print

The Tribunal held that AY 2010-11 was outside the permissible ten-year assessment block computable under Section 153A. Applying the Delhi High Court’s interpretation in Ojjus Medicare, it found the notice itself invalid. As a result, the assessment proceedings were quashed and the appeals were allowed.

CSR Donations Eligible for Section 80G Relief as Section 37 Disallowance Does Not Bar Chapter VI-A Deduction

May 31, 2026 864 Views 0 comment Print

The Tribunal held that donations qualifying under Section 80G do not become ineligible merely because they are incurred as part of CSR obligations. The deduction was allowed following earlier decisions in the assessee’s own case.

ITAT Rejects Blanket Bogus Purchase Disallowance as Sales & Stock Records Were Accepted

May 31, 2026 606 Views 0 comment Print

The Tribunal held that disallowance of 20% of total purchases was unsustainable where the Assessing Officer had accepted sales, stock records, and quantitative details. Mere non-service of notices under Section 133(6) could not justify treating all purchases as bogus.

ITAT Deletes Black Money Act Penalty Due to Bona Fide Schedule FA Omission

May 31, 2026 342 Views 0 comment Print

ITAT found that the taxpayer’s foreign investment was funded through disclosed banking channels and tax-paid funds. Since there was no deliberate concealment, the penalty was deleted.

Advance Tax Payment Not Shield from Penalty for Concealment of Capital Gains: Madras HC

May 31, 2026 462 Views 0 comment Print

The assessee argued that payment of advance tax demonstrated absence of concealment. The High Court held that a subsequent conscious claim of exemption and refund amounted to furnishing inaccurate particulars, attracting penalty.

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