Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Undisclosed turnover - Estimation of income - The presumptions u/s. 292C are rebuttable presumptions and they do not lead to conclusive evidence. The assessee has right to rebut the presumption. In the present case, since the assessee has not rebutted the presumption, CIT(A) has given a direction to estimate the income on the turnover @ 5% as income of the assessee. - AT
Undisclosed turnover - Estimation of income - The presumptions u/s. 292C are rebuttable presumptions and they do not lead to conclusive evidence. The assessee has right to rebut the presumption. In the present case, since the assessee has not rebutted the presumption, CIT(A) has given a direction to estimate the income on the turnover @ 5% as income of the assessee. - AT
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