Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Exemption u/s 54EC - REC Bonds - investment within six months from the date of transfer of the capital asset - assessee has demonstrated that non–investment in REC Bonds within the stipulated period was due to non–availability of bonds in the market - the delay in investment has to be condoned as the assessee cannot be expected to do or perform an impossible act - exemption allowed
Exemption u/s 54EC - REC Bonds - investment within six months from the date of transfer of the capital asset - assessee has demonstrated that non–investment in REC Bonds within the stipulated period was due to non–availability of bonds in the market - the delay in investment has to be condoned as the assessee cannot be expected to do or perform an impossible act - exemption allowed
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