Income Tax Update: Online IT Return Forms Now Live for ITR 1, 2, and 4 along with Excel and Offline Utilities in Portal for FY 2023-24 or AY 2024-25
The Income Tax Portal has enabled the Online filing for ITR-1, ITR-2, and ITR-4 forms for Financial Year 2024-2025. Taxpayers can also access the...
![Order passed Referring to Section 144(C)(1) of Income Tax Act to be Construed only as Draft Assessment Order: Madras HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Madras-High-Court-Madras-HC-Draft-Assessment-Order-significance-Tax-assessment-legal-update-Taxscan.jpg "Order passed Referring to Section 144(C)(1) of Income Tax Act to be Construed only as Draft Assessment Order: Madras HC [Read Order]")
![Bar Attached Hotels and Shops shall Pay 5% of Turnover Tax as is applicable in Respect of Retail Outlets Run by Beverages Corporation: Kerala HC Dismisses Review Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Bar-Hotel-shops-shall-pay-turnover-tax-respect-retail-outlets-run-by-Beverages-Corporation-Kerala-HC-review-petition-TAXSCAN.jpg "Bar Attached Hotels and Shops shall Pay 5% of Turnover Tax as is applicable in Respect of Retail Outlets Run by Beverages Corporation: Kerala HC Dismisses Review Petition [Read Order]")
![No ground to entertain Writ Petition where there is equally efficacious remedy available before ITAT: Kerala HC dismisses Writ Petition [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/No-ground-to-entertain-Writ-Petition-efficacious-remedy-available-ITAT-Kerala-HC-writ-petition-taxscan.jpg "No ground to entertain Writ Petition where there is equally efficacious remedy available before ITAT: Kerala HC dismisses Writ Petition [Read Order]")
![Depreciation Claim allowable on Vehicle used Commercially for Business Purpose: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Depreciation-Claim-Vehicle-Commercially-Business-Purpose-ITAT-taxscan.jpg "Depreciation Claim allowable on Vehicle used Commercially for Business Purpose: ITAT [Read Order]")
Payments towards Marketing and Distribution Rights of Google Ad words not Royalty: ITAT [Read Order]
The Bangalore Income Tax Appellate Tribunal ( ITAT ) Bench held that the payment made by Google India to the assessee does not fall under the category of royalty or Fees for Technical Services (FTS)....
![Payments towards Marketing and Distribution Rights of Google Ad words not Royalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Payments-Marketing-Distribution-Google-Ad-words-Royalty-ITAT-taxscan.jpg "Payments towards Marketing and Distribution Rights of Google Ad words not Royalty: ITAT [Read Order]")
![ICSI Income Tax Exemption Claim: ITAT orders to Carry Out Necessary Verification [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ICSI-ITAT-ITAT-Delhi-Income-tax-Income-tax-news-ICSI-income-tax-exemption-Income-tax-exemption-taxscan.jpg "ICSI Income Tax Exemption Claim: ITAT orders to Carry Out Necessary Verification [Read Order]")
Disallowance of Depreciation Claim on Goodwill: Suzlon Energy Ltd gets slapped with ₹260.35 Cr Income Tax Penalty
Suzlon Energy Ltd, a company dedicated to providing renewable energy solutions, faced a setback recently when it was hit with a hefty penalty of ₹260.35 crore by the National Faceless Assessment...
Assessee deposits Mobile Recharge Sale Proceeds in Dena Bank Account, pays Mobile Companies: ITAT deletes Addition on Unexplained Cash u/s 69 [Read Order]
In a recent ruling the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) deleted unexplained cash under Section 69 of Income Tax Act, 1961 as the individual deposited mobile recharge sale...
![Assessee deposits Mobile Recharge Sale Proceeds in Dena Bank Account, pays Mobile Companies: ITAT deletes Addition on Unexplained Cash u/s 69 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Ahmedabad-Mobile-recharge-sale-proceeds-Unexplained-Cash-taxscan.jpg "Assessee deposits Mobile Recharge Sale Proceeds in Dena Bank Account, pays Mobile Companies: ITAT deletes Addition on Unexplained Cash u/s 69 [Read Order]")
Setback to ICICI: ITAT confirms Revision of Indexation on Foreign Currency to Calculate Capital Loss [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) confirmed the revision of indexation on foreign currency for calculating capital loss which led to a set back to the ICICI. It was...
![Setback to ICICI: ITAT confirms Revision of Indexation on Foreign Currency to Calculate Capital Loss [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Income-tax-Income-tax-news-ICICI-ICICI-capital-loss-Foreign-Currency-Indexation-taxscan.jpg "Setback to ICICI: ITAT confirms Revision of Indexation on Foreign Currency to Calculate Capital Loss [Read Order]")
Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]
In recent ruling, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) deleted addition under Section 68 of Income Tax Act as genuineness of purchase and sale of shares is proven by...
![Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/ITAT-ITAT-Mumbai-Purchase-and-Sale-of-Shares-Shares-taxscan.jpg "Genuineness of Purchase and Sale of Shares Proved by Producing Documentary Evidence: ITAT deletes addition u/s 68 [Read Order]")