In the case of Brightstar Infrastructure Pvt. Ltd. vs. ACIT, the ITAT Mumbai allowed the appeal, declaring the final assessment order void due to failure to comply with mandatory procedure u/s 144C of the Income Tax Act.
NFRA has issued Order imposing penalties and sanctions on M/s ASRMP & Co. and auditors CA A. S. Sundaresha and CA Madhusudan U A for professional misconduct in audit of Coffee Day Global Limited for FY 2019-20.
CBIC issued instructions to standardize documentary and information requirements for AD Code registration/modification in relation to exports
The Income Tax Appellate Tribunal (ITAT) Hyderabad ruled in favor of Rajiv Venkataraman, stating that the survival benefit received from LIC on his father’s death is exempt under Section 10(10D) of the Income Tax Act.
The Income Tax Appellate Tribunal (ITAT) Delhi partially allows the appeal filed by Kartikeya Enterprises for AY 2015-16, deleting certain disallowances and confirming others based on corroborative documentary evidence.
The Income Tax Appellate Tribunal (ITAT) Mumbai dismisses the Revenue’s appeal and allows bad debts declared as Non Performing Assets (NPS) before 01.04.2006 as a deduction under section 36(1)(vii) of the Income Tax Act for Abhyudaya Co-op Bank Limited for AY 2012-13.
DGFT issues Trade Notice No. 19/2023, extending the last date for submission of applications to obtain export licenses for broken rice to Senegal, Gambia, and Indonesia. The extended deadline is now 11th August 2023, in compliance with the Hon’ble High Court of Delhi’s order.
Directorate General of Foreign Trade (DGFT) issues Trade Notice No. 18/2023, outlining the procedure for allocating export quotas for broken rice on humanitarian and food security grounds. Requests from the Governments of Mali and Bhutan have been approved, and exporters can apply through an online portal, adhering to specified guidelines.
The Ministry of Commerce & Industry, Government of India, through the Directorate General of Foreign Trade (DGFT), releases Trade Notice No. 17/2023-DGFT on 28th July 2023. The notice addresses the procedure for allocating export quotas for Wheat, Wheat Flour (Atta), and Maida/Semolina to Bhutan based on humanitarian and food security grounds. The notice informs about […]
The CESTAT Chandigarh upheld the deletion of service tax on installation commissioning services on the ground of limitation. The case involved Himachal Futuristic Communication Limited.
