Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
HC dismissed Revenue's appeal regarding TCS collection responsibility under s.206C. Court held that verification requirements in Form 27C apply solely to purchasers as declarants, not sellers. Revenue's contention that sellers must verify declarations was found contrary to s.206C(1A) read with Rule 37C. The Court emphasized that neither the Act nor Rules impose verification duties on sellers. Following precedent from A.A. Estate, HC determined no substantial question of law existed warranting admission under s.260-A, as Revenue's interpretation contradicted clear statutory provisions regarding TCS collection and declaration procedures.
HC dismissed Revenue's appeal regarding TCS collection responsibility under s.206C. Court held that verification requirements in Form 27C apply solely to purchasers as declarants, not sellers. Revenue's contention that sellers must verify declarations was found contrary to s.206C(1A) read with Rule 37C. The Court emphasized that neither the Act nor Rules impose verification duties on sellers. Following precedent from A.A. Estate, HC determined no substantial question of law existed warranting admission under s.260-A, as Revenue's interpretation contradicted clear statutory provisions regarding TCS collection and declaration procedures.
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