Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Section 80-I deduction was denied for the unexpired period when a partnership firm was converted into a private limited company carrying on the same activity. However, based on the Supreme Court's decision in Chetak Enterprises and the Allahabad High Court's ruling in Prisma Electronics, the benefit of Section 80-I deduction should be allowed for the unexpired period even after the conversion from a partnership firm to a private limited company, as long as the same activity is continued. The appeals were allowed, entitling the assessee to the Section 80-I deduction and consequent benefit for the unexpired period.
Section 80-I deduction was denied for the unexpired period when a partnership firm was converted into a private limited company carrying on the same activity. However, based on the Supreme Court's decision in Chetak Enterprises and the Allahabad High Court's ruling in Prisma Electronics, the benefit of Section 80-I deduction should be allowed for the unexpired period even after the conversion from a partnership firm to a private limited company, as long as the same activity is continued. The appeals were allowed, entitling the assessee to the Section 80-I deduction and consequent benefit for the unexpired period.
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