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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 2013 Views 0 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 19680 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 46020 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 41853 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 14625 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


Section 148 Notice Invalid if There Was Only Reason to Suspect, Not Reason to Believe: ITAT Mumbai

Income Tax : The Tribunal ruled that vague information and an excel sheet prepared by the Investigation Wing could not satisfy the statutory re...

June 9, 2026 15 Views 0 comment Print

No On-Money Addition based on Unsubstantiated Excel Sheets: ITAT Mumbai

Income Tax : ITAT Mumbai noted that the excel sheets relied upon by the Revenue had not been established in accordance with legal requirements ...

June 9, 2026 15 Views 0 comment Print

Builder’s Statement Lacked Corroborative Evidence – ITAT Deletes On-Money Addition

Income Tax : ITAT Mumbai held that an addition based solely on a builder's statement could not survive without evidence directly linking the as...

June 9, 2026 36 Views 0 comment Print

Reassessment Invalid as AO Relied Solely on Investigation Report without Inquiry: ITAT Delhi

Income Tax : The ITAT Delhi held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on an investigatio...

June 9, 2026 39 Views 0 comment Print

Channel Owner Companies not Comparable Due to Functional Differences: ITAT Delhi

Income Tax : ITAT Delhi held that television channel and content owner companies could not be compared with a content distribution business. Th...

June 9, 2026 39 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 41187 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 507 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


Addition of Penny Stock Gains Reversed Due to Lack of Direct Evidence

November 30, 2025 591 Views 0 comment Print

ITAT Raipur allowed the appeal, holding that addition of Rs.11.84 lakh under Section 68 was unsustainable as no direct evidence linked the assessee to alleged share manipulation.

Combined Section 153D Approval covering Multiple Years Invalid: ITAT Delhi

November 30, 2025 441 Views 0 comment Print

Because the approval was issued collectively for several years, the Tribunal found it invalid and allowed the appeal. The key takeaway is the necessity of separate approval for each year.

₹101 Crore Penalty Put on Hold for Being Passed During Pending Assessment Appeal

November 30, 2025 891 Views 0 comment Print

The Court held that a penalty under Section 271(1)(c) could not be imposed while the quantum appeal was still pending before the ITAT. The penalty was stayed for being premature under Section 275(1)(a).

ITAT Hyderabad Directs AO to Reassess Charitable Expenses with Evidence

November 30, 2025 303 Views 0 comment Print

The ITAT Hyderabad allowed claims for charitable expenditures after verifying vouchers and accounts, emphasizing that disallowances cannot be made without substantive evidence.

Farmhouse Qualifies as Residential House: Delhi ITAT Upholds Section 54F Relief

November 30, 2025 6060 Views 0 comment Print

The tribunal dismissed the revenue’s appeal, holding that the assessee was entitled to ₹2.36 crore deduction under Section 54F. Evidence showed only one residential property purchase, and farmhouse classification did not disqualify the claim.

AO’s Suspicion Not Evidence: Section 68 not Apply to Opening Balances

November 30, 2025 1206 Views 0 comment Print

Commission payments to agents were held genuine for AY 2013-14 and 2014-15. Tribunal directed deletion of disallowances as payments were backed by bank records, TDS, and recipient confirmations.

Bogus Purchases: Only 6% Profit Element Taxable: Delhi ITAT

November 30, 2025 1893 Views 0 comment Print

Delhi ITAT upholds CIT(A) order, ruling that only profit embedded in alleged bogus purchases can be taxed, not the full purchase value.

Satisfaction Note of 24.05.2021 Shifts Search-Year: ITAT Holds AY 2011-12 Outside Six-Year Block

November 30, 2025 471 Views 0 comment Print

ITAT Delhi held that AY 2011-12 is barred by limitation under Section 153C as the deemed search year started only when documents were received in 2021, nullifying the reassessment and related penalties.

Lack of Board Affiliation Not a Barrier: ITAT Remands Section 12A Application

November 30, 2025 705 Views 0 comment Print

ITAT Delhi held that operating a primary school itself constitutes “education,” removing the need for CBSE or DOE affiliation for 12A registration under the Income Tax Act.

Reassessment Found Erroneous for Not Applying Checkmate Law—Revision Justified

November 30, 2025 648 Views 0 comment Print

ITAT confirmed Section 263 revision after finding that the AO wrongly allowed delayed PF/ESI contributions despite binding Supreme Court law. The reassessment was deemed erroneous and prejudicial to Revenue.

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