Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
tion u/s. 56(2)(viib) - Issue of additional shares at premium while splitting the existing shares - As observed by the Tribunal in its aforesaid order, such allotment of additional shares would be akin to changing a one thousand rupee note for two five hundreds rupee notes. Accordingly, as stated by the Ld. AR, and, rightly so, the provisions of section 56(2)(viib) of the Act in the backdrop of the facts of the case before us could not have been triggered. - AT
tion u/s. 56(2)(viib) - Issue of additional shares at premium while splitting the existing shares - As observed by the Tribunal in its aforesaid order, such allotment of additional shares would be akin to changing a one thousand rupee note for two five hundreds rupee notes. Accordingly, as stated by the Ld. AR, and, rightly so, the provisions of section 56(2)(viib) of the Act in the backdrop of the facts of the case before us could not have been triggered. - AT
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