Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Merely having a reason to believe that income had escaped assessment is not sufficient to reopen assessments beyond 4 year period. Escapement should be linked with failure on the part of assessee to fully and truly disclose all the material facts necessary for assessment.
Merely having a reason to believe that income had escaped assessment is not sufficient to reopen assessments beyond 4 year period. Escapement should be linked with failure on the part of assessee to fully and truly disclose all the material facts necessary for assessment.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
Join Channel 
