Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Reopening of assessment u/s 147 - Reopening based on audit objections - reasons to believe - High Court observed that, reopening an assessment beyond four years requires not only a reason to believe that income has escaped assessment but also a failure on the part of the assessee to fully and truly disclose all material facts necessary for assessment. - Accordingly, High Court held that, the reasons for reopening were not in compliance with the proviso to Section 147 of the Act and, therefore, quashed the notice and order.
Reopening of assessment u/s 147 - Reopening based on audit objections - reasons to believe - High Court observed that, reopening an assessment beyond four years requires not only a reason to believe that income has escaped assessment but also a failure on the part of the assessee to fully and truly disclose all material facts necessary for assessment. - Accordingly, High Court held that, the reasons for reopening were not in compliance with the proviso to Section 147 of the Act and, therefore, quashed the notice and order.
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