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 …

ITAT gives relief to Aishwarya Rai Bachchan by upholding deletion of disallowance u/s 14A over and above the suo-moto disallowance. In a recent judgment ITAT Mumbai gave relief to Aishwarya Rai Bachchan by upholding deletion of disallowance made by the Assessing Officer (AO) u/s 14A over and above …

ITAT deleted addition of amount borrowed for treatment of father and deposited in bank account considering cost of medical treatment in the present day. In a recent judgment, ITAT Lucknow deleted addition for cash deposit of Rs. 10 Lakhs claimed to have borrowed for treatment of his father …

When the income determined as taxable is below exemption limit, provisions of section 115BBE can not be invoked. In a recent case, ITAT Lucknow deleted the addition made by the Assessing Officer (AO) by invoking provisions of section 115BBE of the Income Tax Act, 1961 (the Act) merely …

CBIC issues guidelines regarding Revision of Entries post Clearance under section 18A of the Customs Act 1962 Under Section 18A, inserted vide the Section 93 Finance Act, 2025 providing a facility of revision of entry(ies) already made in relation to the goods, after customs clearance has been given. …