Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Cash deposit during demonetization period treated as unexplained cash credit. Assessee's claim of introducing cash as capital in proprietary concern not accepted due to lack of evidence regarding availability of substantial cash. AO's view upheld that assessee's cash withdrawals from bank accounts indicate absence of substantial personal cash holdings. Assessee's cash in hand on date of deposit reduced by alleged capital introduction amount. Remaining cash in hand treated as source for deposit, with balance addition treated as unexplained cash credit. Appeal partly allowed.
Cash deposit during demonetization period treated as unexplained cash credit. Assessee's claim of introducing cash as capital in proprietary concern not accepted due to lack of evidence regarding availability of substantial cash. AO's view upheld that assessee's cash withdrawals from bank accounts indicate absence of substantial personal cash holdings. Assessee's cash in hand on date of deposit reduced by alleged capital introduction amount. Remaining cash in hand treated as source for deposit, with balance addition treated as unexplained cash credit. Appeal partly allowed.
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