Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Addition u/s 68 - Unexplained loans - the appellant by filing ample documentary evidences sought to justify the identity and creditworthiness of the parties and genuineness of the transactions as entered into with these parties. It seems that the assessee satisfactorily discharged its primary onus cast upon it under Section 68 - Hence, the addition as made to the total income of the appellant under Section 68 of the Act on account of advance received from parties is not sustainable and, thus, deleted. - AT
Addition u/s 68 - Unexplained loans - the appellant by filing ample documentary evidences sought to justify the identity and creditworthiness of the parties and genuineness of the transactions as entered into with these parties. It seems that the assessee satisfactorily discharged its primary onus cast upon it under Section 68 - Hence, the addition as made to the total income of the appellant under Section 68 of the Act on account of advance received from parties is not sustainable and, thus, deleted. - AT
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