Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Unexplained investments/ amounts deposited in the foreign bank account - Amount belong to Nephew of the assessee - The assessee being an agriculturist and only having a small holding of land apparently could not be in possession of such huge amounts, which were also in foreign currency. Nothing as such was produced on record that the same was transferred from India where he was doing some business. It is neither the case of the revenue that the amounts were credited from his income while doing business at abroad - Additions were rightly deleted by ITAT - HC
Unexplained investments/ amounts deposited in the foreign bank account - Amount belong to Nephew of the assessee - The assessee being an agriculturist and only having a small holding of land apparently could not be in possession of such huge amounts, which were also in foreign currency. Nothing as such was produced on record that the same was transferred from India where he was doing some business. It is neither the case of the revenue that the amounts were credited from his income while doing business at abroad - Additions were rightly deleted by ITAT - HC
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