Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Penalty u/s. 271(1)(c) - inadvertent omission of not excluding the short term loss u/s. 94(7) - AO has completed the assessment on the basis of details furnished by the assessee wherein he has paid voluntary taxes on disallowance u/s 94(7) - the assessee fully disclosed all the information asked for and has nowhere furnished any inaccurate particulars and since AO has not brought enough incriminating material then penalty is not leviable
Penalty u/s. 271(1)(c) - inadvertent omission of not excluding the short term loss u/s. 94(7) - AO has completed the assessment on the basis of details furnished by the assessee wherein he has paid voluntary taxes on disallowance u/s 94(7) - the assessee fully disclosed all the information asked for and has nowhere furnished any inaccurate particulars and since AO has not brought enough incriminating material then penalty is not leviable
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