Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Denial of benefit of lower 22% tax rate u/s 115BAA due to delay in filing Form 10-IC by petitioner. Petitioner filed return of income in ITR-6 form, exercising option for lower rate by computing tax accordingly. HC held that delay in filing Form 10-IC should have been condoned by authorities instead of rejecting on technical grounds, as petitioner substantially exercised option for lower rate evident from return. Impugned order and intimation quashed, matter remanded to re-process return applying Section 115BAA and allow lower 22% rate, exercise to be completed within 12 weeks.
Denial of benefit of lower 22% tax rate u/s 115BAA due to delay in filing Form 10-IC by petitioner. Petitioner filed return of income in ITR-6 form, exercising option for lower rate by computing tax accordingly. HC held that delay in filing Form 10-IC should have been condoned by authorities instead of rejecting on technical grounds, as petitioner substantially exercised option for lower rate evident from return. Impugned order and intimation quashed, matter remanded to re-process return applying Section 115BAA and allow lower 22% rate, exercise to be completed within 12 weeks.
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