Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
The AT upheld the determination that the transactions involving demonetized currency deposits and subsequent transfers constituted benami transactions under Section 2(9) of PBPTA. The Initiating Officer and the Ld. AA provided cogent reasons to believe the arrangements were benami, which the appellant's reliance on contrary judgments failed to undermine. No appeal was filed by the benamidar against the impugned order. Consequently, the property was affirmed as benami, with M/s Shivam Enterprises recognized as the beneficial owner and Sh. AKK as the benamidar. The appeal was dismissed in its entirety.
The AT upheld the determination that the transactions involving demonetized currency deposits and subsequent transfers constituted benami transactions under Section 2(9) of PBPTA. The Initiating Officer and the Ld. AA provided cogent reasons to believe the arrangements were benami, which the appellant's reliance on contrary judgments failed to undermine. No appeal was filed by the benamidar against the impugned order. Consequently, the property was affirmed as benami, with M/s Shivam Enterprises recognized as the beneficial owner and Sh. AKK as the benamidar. The appeal was dismissed in its entirety.
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