Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
LTCG computation - Deduction of expenditure cost of acquisition u/s 48 - Various High Courts have held that the interest incurred on borrowed funds are to be treated as ‘cost of acquisition’ and deduction u/s 48 of the Act was allowed for the said expenditure. - AT
LTCG computation - Deduction of expenditure cost of acquisition u/s 48 - Various High Courts have held that the interest incurred on borrowed funds are to be treated as ‘cost of acquisition’ and deduction u/s 48 of the Act was allowed for the said expenditure. - AT
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