Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Revision u/s 263 - dropping of penalty u/s 271(1)(c) - neither the assessment order nor the show cause notice in this case did specify the charges leveled, whether it is for concealment of income or for furnishing inaccurate particulars of income - Since the penalty proceedings initiated is void, it would not serve any purpose to uphold the order of the CIT u/s 263 and the same is quashed
Revision u/s 263 - dropping of penalty u/s 271(1)(c) - neither the assessment order nor the show cause notice in this case did specify the charges leveled, whether it is for concealment of income or for furnishing inaccurate particulars of income - Since the penalty proceedings initiated is void, it would not serve any purpose to uphold the order of the CIT u/s 263 and the same is quashed
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