Day: November 4, 2025

Declaring deemed profit u/s 44AE against business payments claimed as expenditure by related party was legal tax-planning – ITAT In a recent judgment, ITAT Delhi has upheld the finding of CIT(A) that transactions with related party who claimed 100 % expenditure of payments made to assessee who in …

Audit Objections can be basis for reopening but mere quoting audit objection ignoring reply of assessee is non application of mind – SLP dismissed In a recent judgment Hon’ble Supreme Court dismissed the Special Leave Petition of the Revenue upholding High Court order quashing of order u/s 148A(d) …

Look Out Notice/Circular against assessee from travelling abroad quashed as no prosecution had been launched. In a recent case, the Sessions Court quashed Look Out Notice/Circular against the assessee from travelling abroad as no prosecution had been launched and the assessee was not covered under criteria of exceptional …