Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
ITAT upheld the valuation report of the Departmental Valuation Officer (DVO) over the registered valuer's assessment. The appellant failed to provide substantive evidence to challenge the DVO's valuation, which they claimed was arbitrary and unreasonable. The assessee's invocation of section 56(2)(vii) read with section 50C lacked supporting documentation, and no such claim was initially raised during rectification proceedings u/s 154. The CIT(A)'s decision was sustained as the appellant presented mere averments without cogent documentary evidence to invalidate the revenue authorities' determinations. The tribunal found the DVO's report valid and reasonable, dismissing the appeal against the assessee.
ITAT upheld the valuation report of the Departmental Valuation Officer (DVO) over the registered valuer's assessment. The appellant failed to provide substantive evidence to challenge the DVO's valuation, which they claimed was arbitrary and unreasonable. The assessee's invocation of section 56(2)(vii) read with section 50C lacked supporting documentation, and no such claim was initially raised during rectification proceedings u/s 154. The CIT(A)'s decision was sustained as the appellant presented mere averments without cogent documentary evidence to invalidate the revenue authorities' determinations. The tribunal found the DVO's report valid and reasonable, dismissing the appeal against the assessee.
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