Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Addition u/s 68 - Bogus share transaction - Assessee has claimed exemption u/s. 10(38) on the huge long term capital gain from the sale of scrip - the assessment order passed u/s. 143(3) of the Act by the Assessing Officer is bad in law and has to be quashed as the Assessing Officer has failed to provide the copies of statements on which he relied on for making assessments and also for not providing cross examination of those persons inspite of specific request made by the assessee. - AT
Addition u/s 68 - Bogus share transaction - Assessee has claimed exemption u/s. 10(38) on the huge long term capital gain from the sale of scrip - the assessment order passed u/s. 143(3) of the Act by the Assessing Officer is bad in law and has to be quashed as the Assessing Officer has failed to provide the copies of statements on which he relied on for making assessments and also for not providing cross examination of those persons inspite of specific request made by the assessee. - AT
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