Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Levy of penalty - During the impugned period i.e January 2003 to January 2005, there was no provision to impose penalty for issuance of invoices without supplying the goods. The amendment to Rule 26 of Central Excise Act, 2002 came only with effect from 01.03.2007 - It is found that the effect of law cannot be applied retrospectively unless it is specifically intended and clearly said so in the amendment. - AT
Levy of penalty - During the impugned period i.e January 2003 to January 2005, there was no provision to impose penalty for issuance of invoices without supplying the goods. The amendment to Rule 26 of Central Excise Act, 2002 came only with effect from 01.03.2007 - It is found that the effect of law cannot be applied retrospectively unless it is specifically intended and clearly said so in the amendment. - AT
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