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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 2766 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 12750 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 19728 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 46044 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 41922 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 6004 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 1563 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


Single Order for Reassessment and ITAT Directions not sustainable: ITAT Mumbai

Income Tax : ITAT remanded the case as NFAC passed an ex parte order despite notice issues and held that a combined reassessment and ITAT effec...

June 9, 2026 33 Views 0 comment Print

ITAT Deletes Interest Disallowance as AO Failed to Prove Diversion of Borrowed Funds

Income Tax : ITAT Delhi held that interest expenditure cannot be disallowed without establishing a nexus between borrowed funds and non-busines...

June 9, 2026 36 Views 0 comment Print

No Pre-Deposit Needed to File Income Tax Appeal Under Section 246A: Madras HC

Income Tax : The Madras High Court held that filing an appeal before the Commissioner of Income-tax (Appeals) under Section 246A does not requi...

June 9, 2026 39 Views 0 comment Print

ITAT Deletes Section 234E Fee as No Machinery Provision Existed Before 1 June 2015

Income Tax : ITAT Chennai held that late filing fees under Section 234E could not be levied through TDS processing for periods prior to 01.06.2...

June 9, 2026 42 Views 0 comment Print

SC Leave Fare Concession Ruling: ITAT Holds Bank Liable for TDS Default

Income Tax : The ITAT held that, following the Supreme Court's ruling denying LFC exemption for foreign travel, a bank could be treated as an a...

June 9, 2026 42 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 42639 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 531 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


Books Clean, Sales Matched — No Suspicion Without Evidence – Demon Cash Addition Not Sustainable

November 10, 2025 315 Views 0 comment Print

ITAT Chandigarh held that cash deposits made during the demonetization period were from genuine business cash sales. The addition of Rs. 20.86 lakh by the AO and CIT(A) was based on assumptions and was deleted.

Loan Received, Interest Paid, Loan Repaid — ITAT Deletes Entire ₹50 Lakh Section 68 Addition

November 10, 2025 1026 Views 0 comment Print

ITAT Ahmedabad held that a genuine ₹50 lakh loan received and fully repaid with interest cannot be treated as unexplained credit under Section 68. The addition by AO and CIT(A) was deleted as the assessee provided full banking and repayment evidence.

Loans for Capital Use, Payments via Bank — ITAT Upholds Full Relief on All Additions

November 10, 2025 477 Views 0 comment Print

ITAT Ahmedabad dismissed the Revenue’s appeal, confirming CIT(A)’s deletion of ₹1.06 crore addition under Section 41(1). The tribunal held that the unsecured loans were used for capital expenditure, not trading purposes, making the addition inapplicable.

Cash Withdrawn, Then Re-Deposited: ITAT Deletes ₹17.29 Lakh Addition as Fully Explained

November 10, 2025 795 Views 0 comment Print

ITAT Chandigarh held that cash deposits of Rs. 17.29 lakh were merely redeposits of earlier withdrawals. The addition made by the Assessing Officer was deleted as the evidence showed no unexplained income.

CIT(A) Order Non-Speaking: ITAT Sends Reassessment Appeal Back for Fresh Decision

November 10, 2025 546 Views 0 comment Print

 ITAT Hyderabad held that an ex-parte dismissal by CIT(A) violated section 250(6) as not all grounds were adjudicated. The case was restored for a fresh, reasoned hearing.

1,817-Day Delay Without Reason: ITAT Upholds Dismissal of Time-Barred Appeal

November 10, 2025 354 Views 0 comment Print

ITAT Hyderabad upheld the dismissal of a trust’s appeal as barred by limitation due to a delay of nearly five years. The tribunal emphasized that no reasonable cause was shown to condone the delay under section 249(3).

TP adjustment of bareboat charter hire fees deleted as benchmarking approach already accepted in earlier year

November 10, 2025 462 Views 0 comment Print

ITAT Mumbai held that transfer pricing adjustment in relation to international transaction of payment of bareboat charter hire fees is directed to be deleted since benchmarking approach of assessee is already accepted by DRP in earlier years.

Order not providing reasons on functionality of comparable for transfer pricing adjustment cannot sustain

November 10, 2025 498 Views 0 comment Print

Delhi High Court held that order is liable to be set aside and matter remanded to ITAT since ITAT failed to provide appropriate reasoning with regard to functionality of comparable while undertaking transfer pricing adjustment.

Disallowance u/s. 14A while computing book profit u/s. 115JB is not tenable

November 10, 2025 483 Views 0 comment Print

ITAT Ahmedabad held that addition on account of section 14A of the Income Tax Act while computing books profit under section 115JB of the Income Tax Act is not justifiable. Accordingly, addition u/s. 14A deleted and appeal of assessee allowed.

Amount already disclosed before Settlement Commission cannot be added against u/s. 68

November 10, 2025 480 Views 0 comment Print

Delhi High Court held that addition of unsecured loans under section 68 of the Income Tax Act rightly deleted since the said amount is already disclosed before Income Tax Settlement Commission. Accordingly, appeal of revenue dismissed.

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