Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
SC dismissed the Special Leave Petition, affirming the High Court's concession on taxation principles. The court emphasized that if the Corporation believed its counsel wrongly conceded a legal point, it should have immediately sought clarification from the High Court. The tribunal condemned the practice of challenging counsel's concessions belatedly, ruling that such post-facto challenges are procedurally inappropriate. The decision underscores the importance of timely legal interventions and the binding nature of counsel's representations before judicial forums.
SC dismissed the Special Leave Petition, affirming the High Court's concession on taxation principles. The court emphasized that if the Corporation believed its counsel wrongly conceded a legal point, it should have immediately sought clarification from the High Court. The tribunal condemned the practice of challenging counsel's concessions belatedly, ruling that such post-facto challenges are procedurally inappropriate. The decision underscores the importance of timely legal interventions and the binding nature of counsel's representations before judicial forums.
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