Income Tax

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08 Jan 2026
(2026) TaxCorp(LJ) 37350 (ITAT-MUMBAI)
ITAT-MUMBAI
Parties: INU Exports Private Limited Vs ITO
ITAT : ITAT Mumbai Quashes ₹15.18 Crore Penalty under Section 270A: Reclassification of Losses Not Equivalent to Income...
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08 Jan 2026
(2026) TaxCorp(LJ) 37349 (ITAT-DELHI)
ITAT-DELHI
Parties: Passion Realtech Pvt. Ltd Vs Asstt. Commissioner of Income Tax
ITAT : Delhi ITAT Affirms AO's Limited Scrutiny Jurisdiction but Deletes Section 68 Addition on Loan after Revenue's Acc...
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08 Jan 2026
(2026) TaxCorp(LJ) 37348 (ITAT-DELHI)
ITAT-DELHI
Parties: SAIC Motor Corporation Limited Vs Assistant Commissioner of Income Tax
ITAT : Delhi ITAT Rules No Permanent Establishment for SAIC Motor Corporation in India; Rs. 17.33 Crore Addition Deleted...
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08 Jan 2026
(2026) TaxCorp(LJ) 37347 (ITAT-CHENNAI)
ITAT-CHENNAI
Parties: The India Cements Ltd Vs The DCIT
ITAT : Chennai ITAT Upholds Taxability of Maharashtra Investment Subsidy as Income Post-Finance Act, 2015 Amendment—Capi...
Recent Circulars
NOTIFICATION NO. 06/2026
08 Jan 2026

Central Government notifies the Core Settlement Guarantee Funds set up by the AMC Repo Clearing Limited, assessment year...

06/2026
NOTIFICATION NO. 05/2025
07 Jan 2026

Tax Exemption on Specified Income of "Gorakhpur Industrial Development Authority" U/s 10(46A) of Income-tax Act, 1961

05/2025
NOTIFICATION NO. 04/2026
07 Jan 2026

Tax Exemption on Specified Income of "Kota Development Authority" U/s 10(46A) of Income-tax Act, 1961

04/2026
NOTIFICATION NO. 03/2026
06 Jan 2026

Tax Exemption on Specified Income of "Mussoorie Dehradun Development Authority" U/s 10(46A) of Income-tax Act, 1961

03/2026
NOTIFICATION NO. 02/2026
06 Jan 2026

Tax Exemption on Specified Income of "Joint Electricity Regulatory Commission (for The State of Goa and Union Territorie...

02/2026
Latest Judgments
H
(2026) TaxCorp (DT) 96597 (HC-DELHI)
DCIT, Circle 16 (1), Delhi. Versus MD Equipment Pvt. Ltd.
05 Jan 2026

Income Tax - Section 10AA - ITAT Delhi Rules in Favour of Assessee: Section 10AA Deduction Not Barred by Late Filing of...

Key Takeaway

Tax officials must strictly adhere to the CBDT guidelines and judicial precedents while processing such claims..

Income Tax - Section 10AAIncome TaxDeductionDecided in favour of assessee.
H
(2026) TaxCorp (DT) 96596 (HC-GUJARAT)
Paras Chandreshbhai Koticha Versus Income Tax Officer Ward - 1 (2) (2).
07 Jan 2026

Income Tax - Sections 132, 147, 148, 153A, 153C - Gujarat High Court Holds Reassessment u/s 147/148 Invalid When Based o...

Key Takeaway

AOs are thus required to ensure strict compliance with the satisfaction recording procedure under Section 153C before seeking to reopen assessments based on search-related material..

Income Tax - Sections 132147Income Tax
H
(2026) TaxCorp (DT) 96595 (HC-MP)
Nitin Kumar Ahuja Versus Principal Commissioner Income Tax Department
05 Jan 2026

Income Tax - Sections 69, 144 - Madhya Pradesh High Court Upholds Addition Based on Net Profit Ratio for Unrecorded Sale...

Key Takeaway

As such, the appeal was dismissed..

Income Tax - Sections 69144Income TaxAppeal dismissed.
H
(2026) TaxCorp (DT) 96594 (HC-GUJARAT)
Arpit Pravinbhai Shah Versus Assistant Commissioner of Income Tax Circle 5 (1) (1) & Ors.
23 Dec 2025

Income Tax - Sections 40, 199 - Gujarat High Court Directs Tax Credit to Employee Despite Employer’s Failure to Deposit...

Key Takeaway

Employees in similar situations should produce evidence of TDS deduction (such as salary slips or Form 16) and cite this judgment to claim relief..

Income Tax - Sections 40199TDS
S
(2026) TaxCorp (DT) 96593 (SC)
Pr. Commissioner of Income Tax (Central) Versus Mukul Kakar
07 Jan 2026

Income Tax - Section 68 - Supreme Court Declines to Intervene in Section 68 Unexplained Loan Addition: High Court’s Find...

Key Takeaway

Assessees must, therefore, ensure comprehensive documentary evidence to establish the identity, creditworthiness, and genuineness of any purported loan transactions reflected in their books..

Income Tax - Section 68Income TaxThe present petition is, accordingly, dismissed.