Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Estimation of profit embedded in the total unaccounted on money receipts from real estate business of the assessee - CIT(A) noted that if the extra work doubted by search or survey party, no further investigation was made against those flats owners. The adoption of huge ‘on money’ without iota of evidence is not justified and deleted the entire addition. - Order of ITAT confirming the deletion of additions upheld - HC
Estimation of profit embedded in the total unaccounted on money receipts from real estate business of the assessee - CIT(A) noted that if the extra work doubted by search or survey party, no further investigation was made against those flats owners. The adoption of huge ‘on money’ without iota of evidence is not justified and deleted the entire addition. - Order of ITAT confirming the deletion of additions upheld - HC
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