Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Addition on the account of Section 24 v/s business head u/s 37 - interest paid on housing loan - The ITAT upheld the CIT(A)'s decision, stating that if the interest is paid on capital borrowed for the purpose of business, it should be allowed as a deduction under the business head, and not under income from house property.
Addition on the account of Section 24 v/s business head u/s 37 - interest paid on housing loan - The ITAT upheld the CIT(A)'s decision, stating that if the interest is paid on capital borrowed for the purpose of business, it should be allowed as a deduction under the business head, and not under income from house property.
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