Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Claim of interest paid to partners as deduction - interest on outstanding amount of remuneration - The deduction of interest paid can only be permitted if the assessee is receiving the interest income from the capital contribution made by him.
Claim of interest paid to partners as deduction - interest on outstanding amount of remuneration - The deduction of interest paid can only be permitted if the assessee is receiving the interest income from the capital contribution made by him.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
Join Channel 
