Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Unexplained cash credit u/s. 68 - Onus to prove - By observing that the assessee in the present case, has been able to discharge the initial burden to establish the identity, creditworthiness and genuineness as regards the transactions concerning the allotment of shares. - the impugned additions as made u/s 68 and consequential addition of estimated commission u/s 69C is not sustainable in law - AT
Unexplained cash credit u/s. 68 - Onus to prove - By observing that the assessee in the present case, has been able to discharge the initial burden to establish the identity, creditworthiness and genuineness as regards the transactions concerning the allotment of shares. - the impugned additions as made u/s 68 and consequential addition of estimated commission u/s 69C is not sustainable in law - AT
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