Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Short Term capital Gains - Transfer / Conversion of Redeemable Cumulative Convertible Preference Share and Fully Compulsory Convertible Preference Shares to equity shares - In the present case, it is to be appreciated that the conversion of preference shares into equity shares is in the hands of the shareholder. - Thus, gain, if any, arising from such a conversion will only be taxable in the hands of the shareholder - Additions deleted - AT
Short Term capital Gains - Transfer / Conversion of Redeemable Cumulative Convertible Preference Share and Fully Compulsory Convertible Preference Shares to equity shares - In the present case, it is to be appreciated that the conversion of preference shares into equity shares is in the hands of the shareholder. - Thus, gain, if any, arising from such a conversion will only be taxable in the hands of the shareholder - Additions deleted - AT
Note: It is a system-generated summary and is for quick reference only.
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