Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Penalty u/s 271(1)(c) - bogus share capital transactions - The explanation offered towards bonafide issue of share capital cannot be outrightly rejected when tested on the touchstone of penalty proceedings of strict nature. The fact in the present case does not conclusively establish the malafide on the part of the assessee company. - AT
Penalty u/s 271(1)(c) - bogus share capital transactions - The explanation offered towards bonafide issue of share capital cannot be outrightly rejected when tested on the touchstone of penalty proceedings of strict nature. The fact in the present case does not conclusively establish the malafide on the part of the assessee company. - AT
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