Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Claim of deduction u/s 48(i) - deduction of expenditure incurred wholly and exclusively in connection with the transfer of shares - whether the expenditure is incurred wholly and exclusively in connection with transfer of an asset is a question of fact, which depends in the facts and circumstances of the case. - Assessee was unable to point out that three share holders who were parties to the same transaction had claimed the similar expenditure in their returns as was claimed by the assessee - HC
Claim of deduction u/s 48(i) - deduction of expenditure incurred wholly and exclusively in connection with the transfer of shares - whether the expenditure is incurred wholly and exclusively in connection with transfer of an asset is a question of fact, which depends in the facts and circumstances of the case. - Assessee was unable to point out that three share holders who were parties to the same transaction had claimed the similar expenditure in their returns as was claimed by the assessee - HC
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