https://www.taxtmi.com/circulars?id=8869 The Board concluded that company donations to political parties are not business expenditures, are voluntary payments without consideration, and should be subjected to gift-tax; prior Board instructions exempting such gifts are withdrawn and assessing officers must initiate proceedings and decide pending cases in light of this revised instruction. en-us Fri, 09 Jun 1972 00:00:00 +0530 Mon, 30 May 2011 13:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8869 The Board concluded that company donations to political parties are not business expenditures, are voluntary payments without consideration, and should be subjected to gift-tax; prior Board instructions exempting such gifts are withdrawn and assessing officers must initiate proceedings and decide pending cases in light of this revised instruction. Circulars Income Tax Fri, 09 Jun 1972 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8869