Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Penalty u/s 271E - violation of the provisions of section 269T - amount of loan was reduced by way of passing the journal entry - Entries were duly reflected by the assessee in accounts of the parties involved in the impugned transaction of loan and purchase of the land. In our considered view, the genuineness of the transactions for the purchase of land cannot be proved without filing the necessary details. - Matter restored back - AT
Penalty u/s 271E - violation of the provisions of section 269T - amount of loan was reduced by way of passing the journal entry - Entries were duly reflected by the assessee in accounts of the parties involved in the impugned transaction of loan and purchase of the land. In our considered view, the genuineness of the transactions for the purchase of land cannot be proved without filing the necessary details. - Matter restored back - AT
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