Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Addition u/s 40A(2)(b) - nothing is brought on record to substantiate that the loans raised by the assessee were not utilized for the business purposes or were diverted for any other purposes. It is also noticed that neither the AO nor the ld. CIT(A) brought any material on record to substantiate that the rate of interest paid by the assessee was excessive - claim allowed - AT
Addition u/s 40A(2)(b) - nothing is brought on record to substantiate that the loans raised by the assessee were not utilized for the business purposes or were diverted for any other purposes. It is also noticed that neither the AO nor the ld. CIT(A) brought any material on record to substantiate that the rate of interest paid by the assessee was excessive - claim allowed - AT
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