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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 2301 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 19704 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 46032 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 41898 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 14640 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 45 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 54 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 69 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 60 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 60 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 41652 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 516 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


No Coercive Action in Fake ITC Cases When Assessees Cooperate: Chhattisgarh HC

November 27, 2025 609 Views 0 comment Print

The Court held that authorities cannot take coercive steps against taxpayers in a fake ITC investigation if they participate fully in the inquiry. Cooperation ensures protection from arrest or similar actions.

Chapter VIA Income Tax Deductions (Section 80C to 80U ) & Common Mistakes

November 27, 2025 1860 Views 1 comment Print

Explains key deductions under Chapter VI-A and highlights frequent taxpayer errors, including documentation lapses and section-wise misclaims.

Share Premium Addition Quashed; DCF Valuation Cannot Be Replaced Without Specific Errors

November 27, 2025 384 Views 0 comment Print

Tribunal held that AO did not establish any defect in identity, genuineness, or creditworthiness of share subscribers. Addition under Section 68 was deleted.

ITAT Remands Inventory Write-Off Dispute Due to Non-Consideration of Evidence

November 27, 2025 507 Views 0 comment Print

The Tribunal held that the appellate authority failed to examine inventory-related documents before sustaining disallowance under section 37(1). The matter was sent back for fresh adjudication with directions to consider all evidence.

Income Tax Assessment Set Aside for Violating Seven-Day Notice Requirement

November 27, 2025 1116 Views 0 comment Print

The Court held that the show cause notice provided less than seven days to respond, contrary to the prescribed procedure. The assessment and related notices were set aside and the matter remanded for reconsideration.

Kerala HC Stays Recovery Pending Stay Petition in Income Tax Penalty Case

November 27, 2025 501 Views 0 comment Print

The Kerala High Court ordered abeyance of recovery proceedings under a penalty order while the stay petition is considered, ensuring no enforcement until a decision is made.

Unexplained cash credits addition u/s. 68 sustained as identity and creditworthiness not proved

November 27, 2025 423 Views 0 comment Print

ITAT Visakhapatnam held that addition towards unexplained cash credits under section 68 of the Income Tax Act upheld since assessee company failed to substantiate identity and creditworthiness of lender.

Reassessment Quashed: JAO Cannot Issue Section 148 Notice After Faceless Regime

November 27, 2025 1176 Views 0 comment Print

The High Court held that reassessment notices issued by the jurisdictional officer after the faceless regime came into force were without authority. All related proceedings were quashed, and the ITAT appeal was directed to be closed as infructuous.

Income Tax Proceedings Invalid as Revenue Filed No Claim During CIRP Bombay HC

November 27, 2025 732 Views 0 comment Print

The Court ruled that assessment notices for earlier years were void because the tax authorities did not lodge claims before the resolution plan was approved. Once the plan attained finality, all excluded claims stood extinguished under binding IBC principles. The judgment also holds that the revenue cannot deny carry-forward of losses after failing to participate in the insolvency process.

SC Applies Rajeev Bansal Ruling to Revenue’s SLPs on Reassessment

November 27, 2025 648 Views 0 comment Print

SC disposes of Revenue SLPs; TOLA applies but reassessment timelines remain strictly enforced.

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