Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Validity of the order passed u/s 147 - insufficient reason to believe - There is no basis mentioned in the reasons for the belief of the Assessing Officer that the assessee’s entire claim of deduction under Section 48 of the Act was incorrect. And this escapement of income has absolutely no link or correlation with the information in the possession of the AO that the other co-owner of land had incorrectly claimed deduction under Section 54B of the Act. - Reassessment order quashed - AT
Validity of the order passed u/s 147 - insufficient reason to believe - There is no basis mentioned in the reasons for the belief of the Assessing Officer that the assessee’s entire claim of deduction under Section 48 of the Act was incorrect. And this escapement of income has absolutely no link or correlation with the information in the possession of the AO that the other co-owner of land had incorrectly claimed deduction under Section 54B of the Act. - Reassessment order quashed - AT
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