Read the notifications from the Institute of Chartered Accountants of India (ICAI) regarding the removal of names of Chartered Accountants (CAs) due to professional misconduct. Find out the duration of removal and penalties imposed.
Read about the Insulated Flask, Bottles, and Containers (Quality Control) Order, 2023 issued by the Ministry of Commerce and Industry. The order mandates the compulsory use of standard marks for specified goods, with exemptions for certain enterprises. The Bureau of Indian Standards is designated as the certifying and enforcing authority.
Read about the Resin Treated Compressed Wood Laminates (Quality Control) Order, 2023 issued by the Ministry of Commerce and Industry. The order mandates the compulsory use of standard marks for specific goods and articles and designates the Bureau of Indian Standards as the certifying and enforcing authority.
CESTAT Kolkata has quashed the service tax demand imposed on Walchandnagar Industries Limited (WIL) in a case involving a composite contract for setting up a cement manufacturing unit. The tribunal determined that the contract primarily involved the supply of goods, and the value assigned to the bought-out items sold by WIL cannot be considered as a consulting engineer service.
Stay informed about the latest amendments in the tariff values of edible oils, brass scrap, areca nut, gold, and silver. Read Notification 53/2023 by the Ministry of Finance, Government of India, and understand the revised values for customs duties. Effective from July 15, 2023.
The Delhi High Court has quashed an income tax notice in the case of Jagannath Haldar Through vs. PCIT. The court found that the Assessing Officer (AO) had not taken into account the petitioner’s reply while passing the order under Section 148A(d) of the Income Tax Act.
Calcutta High Court quashed imposition of a 200% penalty on Bitumix India LLP for a violation related to an expired e-Way Bill. HC determined that while there was a violation, it was not grave enough to warrant such a high penalty. Instead, court directed appellants to pay a penalty of Rs. 50,000, which includes both CGST and WBGST.
An ITAT ruling in the case of Bhartiya Shiksha Prachar Samiti vs DCIT highlights the application of Section 11 of the Income Tax Act and its implications for auditing requirements. Learn more about the details and impacts of this landmark case.
In present facts of the case, the Hon’ble ITAT observed that since, the assessee is found to be functionally comparable to the business auxiliary service providers, therefore it is established that the assessee has undertaken limited functions and risk in the merchanting trades segment and earns a fixed profit margin.
Supreme Court held that proportionate increase in quota for import not entitled as Consent to Operate on enhanced production capacity was issued after fixing the total import limit
