Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Estimation of income - Bogus purchases - Second reopening assessment proceedings - The Tribunal affirms the decision of the CIT-A to delete the addition made under Section 69C. It emphasizes that the appellant's case had already been reopened and reassessed for alleged bogus purchases in earlier proceedings, wherein a net profit rate of 5.76% was determined and confirmed. Consequently, the Tribunal finds no justification for further additions.
Estimation of income - Bogus purchases - Second reopening assessment proceedings - The Tribunal affirms the decision of the CIT-A to delete the addition made under Section 69C. It emphasizes that the appellant's case had already been reopened and reassessed for alleged bogus purchases in earlier proceedings, wherein a net profit rate of 5.76% was determined and confirmed. Consequently, the Tribunal finds no justification for further additions.
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