Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Penalty imposed u/s 271B - delayed audit of accounts - reasonable cause - surely, ignorance of law is no excuse, but, then, it needs to be borne in mind that we are here concerned with penalty proceedings, in which the conduct is of essence - this is the 1st year of business operation of the assessee, and assessee was misguided by his accountant, hence penalty should not be imposed
Penalty imposed u/s 271B - delayed audit of accounts - reasonable cause - surely, ignorance of law is no excuse, but, then, it needs to be borne in mind that we are here concerned with penalty proceedings, in which the conduct is of essence - this is the 1st year of business operation of the assessee, and assessee was misguided by his accountant, hence penalty should not be imposed
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