Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Eligibility for deduction u/s 80P - assessee to invest 25% of its profits in the reserve funds, which in turn, are parked in FDRs with Bank of Maharashtra - assessee is entitled to claim deduction under section 80P(2)(a)(i) - However, the assessee is not entitled to claim the said deduction on Saving Account interest - AT
Eligibility for deduction u/s 80P - assessee to invest 25% of its profits in the reserve funds, which in turn, are parked in FDRs with Bank of Maharashtra - assessee is entitled to claim deduction under section 80P(2)(a)(i) - However, the assessee is not entitled to claim the said deduction on Saving Account interest - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
Join Channel 
