Revision u/s 263 arising from tax auditors observation upheld as AO did not examine the matter In a recent judgment, ITAT Chennai has upheld revisionary proceedings u/s 263 which stemmed from observation of Tax Auditor that there was remission of trading liability u/s 41(1)(a) of the Act and …

H.P. State Cooperative Bank Ltd invites applications from CA firms for concurrent audit for FY 2024-25 EOI for Selection & Empanelment of Chartered Accountant Firms for Concurrent Audit of Bank’s Branches for FY 2024-2025 The H.P. State Cooperative Bank Ltd. has invited applications from practicing firms of Chartered …

Prosecution u/s 276B for delay in deposit of TDS quashed by High Court in the light of CBDT circulars In a recent judgment, Hon’ble Bombay High Court has quashed prosecution u/s 276B for delay in deposit of TDS in the light of CBDT Circular/Instructions stating that when TDS …

Implicating Customs Brokers as co-noticee in a routine manner, in matters involving interpretation of statute, must be avoided – CBIC Customs Brokers’ Associations had given representations to CBIC in respect of implicating Customs Brokers as co-noticee in the show cause notices issued to importers/exporters in matters involving interpretative …

For imported goods, it is impossible to claim CENVAT credit and hence custom duty exemption can not be denied. Supreme Court dismissed SLP  In a recent order, Hon’ble Supreme Court has dismissed Special Leave Petition (SLP) of the Custom/Excise Department against the order of the CESTAT holding that …

High Court grants bail to ITC scam accused as GST liability was yet to be not determined. In a recent judgment, Hon’ble High Court of Punjab & Haryana granted bail to ITC scam accused as GST liability was yet to be determined and the assessee was not habitual …