The Kerala High Court quashed re-assessment order under the Income Tax Act, 1961 in the matter regarding the denial of virtual hearing on ground that it was not in prescribed form. The present writ petition has been filed impugning the order passed by the 2nd respondent in an appeal instituted by the petitioner against the...
The Institute of Chartered Accountant on 29 th April 2024 released the exposure draft of guidance note on reports on audit under Section 12A/10(23C) of Income Tax Act, 1961 for Public Comments. In October, 2023, the Direct Taxes Committee of ICAI had come out with a Technical Guide on “Reports of Audit under section 12A/10(23C) of […]
The Mumbai Bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) allowed the refund of service tax on cancelled bookings of flats. Facts of the case in brief are that the Appellant is in the business of providing construction of residential complex service. The Appellant have received booking in respect of...
The Kerala High Court directed to re-export the seized gold ornaments given the position that the Power of Attorney was executed as the petitioner is bedridden. The Customs Authorities seized the gold items weighing two bangles (88.75 Grams) and one gold chain (62.95 Grams) on 01.08.2023 at the Cochin International Airport from the petitioner. It […]
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