Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Recognized system of accounting - maintain its accounts according to AS-7 or AS-9 - the system of accounting followed by it for the last many years as per AS-9 - Department cannot reject the said system followed by it for the reason that it ought to have followed the other recognized system AS-7 system i.e. percentage completion system - HC
Recognized system of accounting - maintain its accounts according to AS-7 or AS-9 - the system of accounting followed by it for the last many years as per AS-9 - Department cannot reject the said system followed by it for the reason that it ought to have followed the other recognized system AS-7 system i.e. percentage completion system - HC
Note: It is a system-generated summary and is for quick reference only.
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