Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Interest income - new source of income - to be taxed as income from other sources and not as business income - AO rightly denied the application of provisions of section 44AF - Further the assessee has not satisfied the conditions of section 57(iii), so interest expenditure is not to be allowed as deduction - AT
Interest income - new source of income - to be taxed as income from other sources and not as business income - AO rightly denied the application of provisions of section 44AF - Further the assessee has not satisfied the conditions of section 57(iii), so interest expenditure is not to be allowed as deduction - AT
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