2025 (3) TMI 156 - SC - Income Tax

Expenses incurred are excessive u/s 40A(2)(b) - Applicability of provisions of section 44BBB - HC 2024 (2) TMI 1531 - DELHI HIGH COURT held that material particulars had been duly placed before the DRP and the AO failed to justify the invocation of the said provision. ITAT has further found that the Department had failed to produce any material or establish from the record that the expenses claimed were inflated or unjustified. Also assessee was not executing a turnkey power project to attract applicability of provisions of section 44BBB HELD THAT - We do not find any good ground and reason to interfere with the impugned judgment and hence the present special leave petition is dismissed.

Summary

The Supreme Court of India, with Hon'ble The Chief Justice and Hon'ble Mr. Justice Sanjay Kumar presiding, dismissed the special leave petition as they found no sufficient grounds to interfere with the impugned judgment. The delay was condoned, and any pending applications were disposed of accordingly. The Respondent did not appear.