Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Assessee opted for special tax rate u/s 115BAC but CPC denied benefit citing non-filing of Form-10-IE. ITAT held that Section 115BAC(5)(ii) allows salaried employees to exercise option without filing Form-10-IE, applicable only for business/profession income. Assessee followed procedure under Act, hence ITAT set aside Revenue Authorities' order and allowed assessee's appeal.
Assessee opted for special tax rate u/s 115BAC but CPC denied benefit citing non-filing of Form-10-IE. ITAT held that Section 115BAC(5)(ii) allows salaried employees to exercise option without filing Form-10-IE, applicable only for business/profession income. Assessee followed procedure under Act, hence ITAT set aside Revenue Authorities' order and allowed assessee's appeal.
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