Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Exemption u/s 11 - Tribunal while allowed the exemption held that the proviso to Section 2(15) is not applicable to assessee - ITAT observed that, profit making is not the driving force or objective of the assessee. - The order passed by the Tribunal is based on the meticulous appreciation of materials on record and by no stretch of imagination can be said to be perverse. - HC
Exemption u/s 11 - Tribunal while allowed the exemption held that the proviso to Section 2(15) is not applicable to assessee - ITAT observed that, profit making is not the driving force or objective of the assessee. - The order passed by the Tribunal is based on the meticulous appreciation of materials on record and by no stretch of imagination can be said to be perverse. - HC
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