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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 2433 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 19716 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 46041 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 41907 Views 0 comment Print

Updated Return of Income: Rules, Eligibility and Filing Process

Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...

June 9, 2026 14652 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 6001 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 1557 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 3663 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


LTCG Exemption Denied as 3072% Returns Failed Human Test Probability

Income Tax : ITAT Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...

June 9, 2026 60 Views 0 comment Print

SC Upholds LTCG Addition as Extraordinary Penny Stock Gains Defied Business Logic

Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...

June 9, 2026 72 Views 0 comment Print

Delhi HC Upholds LTCG Addition on Extraordinary 4910% Returns from Penny Stock

Income Tax : The Delhi High Court upheld the denial of Section 10(38) exemption after finding that the authorities had rightly treated the shar...

June 9, 2026 81 Views 0 comment Print

AO cannot finalize assessment before completion of DRP mechanism: Karnataka HC

Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...

June 9, 2026 81 Views 0 comment Print

Karnataka HC Rejects Ad Hoc Expenditure Disallowance as Books of Account were accepted

Income Tax : The Court found that the ITAT wrongly held there was no business income despite the assessment record showing income under “Busi...

June 9, 2026 75 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 42069 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 519 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


Printing & Sale of Books Qualifies as ‘Education’: ITAT Restores Section 11 Exemption

May 27, 2026 450 Views 0 comment Print

The Bangalore ITAT held that charitable trusts publishing and selling educational books do not lose Section 11 exemption merely because they earn surplus. Educational publishing activities were held distinct from commercial business activities.

WhatsApp Chats & Estimates Alone Insufficient in Unabated Search Case: ITAT Deletes On-Money Addition

May 27, 2026 2169 Views 0 comment Print

The Bangalore ITAT held that uncorroborated WhatsApp chats and retracted statements are insufficient to sustain large on-money additions in search assessments. Additions based purely on estimates without incriminating evidence were deleted.

HC Upholds ITAT Remand for Fresh Cash Flow Verification in Share Premium Addition u/s 68; Human Probability Test Not Enough

May 27, 2026 255 Views 0 comment Print

AO observed an imbalance: the investor companies brought in massive investments but received a minimal percentage of equity, while the promoters retained overwhelming majority control despite investing a lower proportionate amount (Rs. 45 crores)

Income Tax Appeal Rejected Due to Low Tax Effect & Lack of Exceptional Circumstances

May 26, 2026 300 Views 0 comment Print

The Calcutta High Court refused to entertain the Income Tax Department’s appeal after finding that the Revenue failed to identify any applicable exceptional clause to bypass the low tax effect limit.

ITAT Deletes Deemed Dividend Addition as Cash Shortage Related to Proprietary Concern

May 26, 2026 309 Views 0 comment Print

The Tribunal ruled that deemed dividend provisions require evidence of withdrawal from a company in which the assessee is a shareholder. Since the shortage related to a proprietary concern, the addition was deleted.

ITAT Delhi Deletes Notional Interest Addition as No Real Income Had Accrued

May 26, 2026 561 Views 0 comment Print

ITAT Delhi held that notional interest on business advances cannot be taxed without actual accrual or receipt of income. The Tribunal deleted the addition after finding that the advances were made during the ordinary course of business.

ITAT Patna Deletes Bogus Purchase Addition as One-to-One Sales Correlation Was Proven

May 26, 2026 264 Views 0 comment Print

The Tribunal observed that once the Revenue accepted sales arising from the same goods, it could not entirely disallow purchases as bogus. The decision emphasized the importance of stock records, invoices, and transport documents.

Section 148 Notice Invalid as It Was Served After Limitation Period: ITAT Mumbai

May 26, 2026 447 Views 0 comment Print

The ITAT Mumbai held that a reassessment notice cannot be treated as valid merely because it carried an earlier date when it was actually signed and served after limitation expired. The reassessment proceedings were quashed as without jurisdiction.

Interest Awarded After Tax Department Retained Matured KVPs Despite Settlement Payment

May 26, 2026 180 Views 0 comment Print

The Delhi High Court held that the Income Tax Department was liable to compensate an assessee for delayed release of seized KVPs and IVPs after settlement dues were paid. The Court awarded interest for the delay period and additional simple interest for continued non-payment.

ITAT Deletes Software Expense Disallowance for Lack of Evidence of Sham Transactions

May 26, 2026 219 Views 0 comment Print

The Chennai ITAT dismissed the Revenue’s appeal after finding that identical issues had already been decided in favour of the assessee in earlier assessment years. The Tribunal followed its previous ruling on software service payments.

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