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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


US Taxation – IRS Audits

Income Tax : The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, righ...

April 22, 2026 96 Views 0 comment Print

No TDS on Transport Payments: Declaration Format Under Income Tax Act 2025

Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...

April 21, 2026 1524 Views 2 comments Print

ITR Filing FY 2025-26: Step by Step Guide for Salaried Professionals

Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...

April 21, 2026 3126 Views 0 comment Print

Selling Trust: The Quiet Problem of Product Mis-Selling in Indian Banking

Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...

April 21, 2026 171 Views 0 comment Print

Addition Deleted Due to Lack of Corroborative Evidence in Search-Based Case

Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...

April 21, 2026 243 Views 0 comment Print


Latest News


CBDT Refutes Allegations of Tax Raid, Terms Claims Baseless; Complaint Filed with Election Commission & Police

Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...

April 21, 2026 120 Views 0 comment Print

CAAS Moves Supreme Court on ITAT Vacancies

Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...

April 18, 2026 249 Views 0 comment Print

Massive Tax Irregularities Found Due to Improper Deductions by Banks & NBFCs: CAG

Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...

April 6, 2026 3354 Views 0 comment Print

Free Live Webinar: Decoding the New Income Tax Act, 2025

Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...

April 5, 2026 7968 Views 0 comment Print

Representation for enhancement of monetary limit for SMC cases before ITAT

Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...

April 4, 2026 882 Views 0 comment Print


Latest Judiciary


ITAT Quashed Income Tax Assessment Due to Absence of Section 127 Transfer Order

Income Tax : The Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment. It ruled tha...

April 22, 2026 72 Views 0 comment Print

SC Dismisses Appeal Due to Delay, HC Ruling on No PE and Offshore Taxability Stands

Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...

April 21, 2026 153 Views 0 comment Print

Offshore Supply Income Not Taxable in India Due to Absence of Business Connection: Delhi HC

Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...

April 21, 2026 189 Views 0 comment Print

Income Tax Appeal Reinstated as Delay due to Bona Fide Belief & COVID-19 Disruption

Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...

April 21, 2026 135 Views 0 comment Print

Reopening Valid Where Income Escapement Based on Search-Derived Information

Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...

April 21, 2026 177 Views 0 comment Print


Latest Notifications


Income Tax Notification Corrected Due to Technical Errors in Rules & References

Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...

April 17, 2026 690 Views 0 comment Print

Transition from Form 15G/15H to Consolidated Form 121 for TDS-exempted Incomes

Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...

April 15, 2026 2136 Views 0 comment Print

Corrigendum to Notification of Income tax return Form U

Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...

April 11, 2026 459 Views 0 comment Print

Corrigendum to Notification of Income tax return Form 7 (ITR 7)

Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...

April 11, 2026 156 Views 0 comment Print

Corrigendum to Notification of Income tax return Form 6 (ITR 6)

Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...

April 11, 2026 177 Views 0 comment Print


Accommodation Entry Case: ITAT Reduces Commission Rate to 1%

January 11, 2026 774 Views 0 comment Print

The Tribunal upheld reopening and reassessment but reduced the estimated commission income from 2% to 1% due to absence of comparative or segmental justification.

Reassessment Notice Quashed for Lack of Jurisdiction Under Faceless Scheme

January 11, 2026 504 Views 0 comment Print

The High Court held that notices issued under Section 148 by a jurisdictional Assessing Officer were without authority when the faceless assessment scheme applied. Relying on binding precedents, the writ petition was disposed of in favour of the taxpayer, reaffirming NFAC’s exclusive role.

Redevelopment Receipts Can’t Be Taxed Twice: ITAT Mumbai

January 11, 2026 489 Views 0 comment Print

Emphasising the principle against double taxation, the Tribunal held that amounts taxed in members’ hands cannot again be assessed in the society’s hands, subject to factual verification.

CPC Addition on IGST Refund Sent Back for Fresh Examination

January 11, 2026 297 Views 0 comment Print

The Tribunal held that IGST refund on exports requires factual verification through ledger evidence. The issue was remanded to the Assessing Officer for limited examination.

Matter Remanded as Stock & Sales Figures Mismatched During Demonetisation: ITAT Lucknow

January 11, 2026 207 Views 0 comment Print

The Tribunal found a prima facie mismatch between stock and cash sales during demonetisation. The issue was remanded for fresh verification by the Assessing Officer.

ITAT Visakhapatnam Quashed Reassessment for Being Passed on Deceased Assessee

January 11, 2026 1440 Views 0 comment Print

The Tribunal held that an assessment order passed after the assessee’s death, without impleading legal heirs, is a nullity in law. The matter was remanded for fresh assessment in accordance with section 159

Section 11 Tax Exemption Upheld as Development Authority Activities Not Commercial

January 11, 2026 318 Views 0 comment Print

The Tribunal ruled that statutory urban development functions do not amount to trade or business. Fees and grants received under statutory mandate were held eligible for exemption.

Ignorance of Tax Law Not a Genuine Ground for Late Return Condonation: Delhi HC

January 11, 2026 513 Views 0 comment Print

The issue concerned condonation of delay in filing an ITR under Section 119(2)(b). The court upheld rejection, holding that ignorance of law and general reasons do not amount to genuine hardship.

Delhi HC Quashed Reassessment Due to Vague Section 148A Show Cause Notices

January 11, 2026 768 Views 0 comment Print

The Delhi High Court held that reassessment proceedings cannot proceed on vague notices lacking reasons for alleged escapement of income. Orders under Section 148A(3) and notices under Section 148 were set aside and remanded for fresh consideration.

ITAT Mumbai Quashed Section 68 Addition Due to Evidence of Inherited Jewellery

January 11, 2026 702 Views 0 comment Print

The issue was whether sale proceeds of inherited jewellery could be taxed as unexplained cash credits. The Tribunal held that valuation reports, affidavits, and banking records sufficiently explained the source, leading to deletion of the Section 68 addition.

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