Kerala HC allows Alka Ventures Appeal on Condition of ₹12 Crore Advance Tax deposit

Alka Ventures Private Limited Vs Additional / Joint / Deputy / ACIT / ITO (Kerala High Court) In a recent judgment, the Kerala High Court directed Alka Ventures Private Limited to deposit 12 crore rupees as advance tax to maintain an appeal against an assessment order. The case revolves around the company’s failure to file a return of income for the assessment year 2016-17 and subsequent proceedings initiated by the Income Tax Department. Alka Ventures, a Private Limited Company operating in the real estate sector, faced assessment proceedings for the mentioned fiscal year. The assessmen...