https://www.taxtmi.com/caselaws?id=331520 Deduction under section 80GGC was held available where the contribution was made by cheque to a political party registered under section 29A of the Representation of the People Act, 1951; Election Commission recognition was not a statutory requirement, and supporting receipts, confirmation and Form 24A substantiated the claim. Brought forward sundry creditors were not assessable as unexplained credits under section 68 because they were carried forward trade balances from earlier years, supported by confirmations and ledger extracts. Cash deposits were also deleted where the assessee showed there was no separate unexplained account and the entries belonged to the regular bank account. Business expenditure on interest and depreciation was accepted on proof of business nexus. en-us Fri, 15 Jul 2016 00:00:00 +0530 Fri, 26 Aug 2016 13:27:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331520 Deduction under section 80GGC was held available where the contribution was made by cheque to a political party registered under section 29A of the Representation of the People Act, 1951; Election Commission recognition was not a statutory requirement, and supporting receipts, confirmation and Form 24A substantiated the claim. Brought forward sundry creditors were not assessable as unexplained credits under section 68 because they were carried forward trade balances from earlier years, supported by confirmations and ledger extracts. Cash deposits were also deleted where the assessee showed there was no separate unexplained account and the entries belonged to the regular bank account. Business expenditure on interest and depreciation was accepted on proof of business nexus. Case-Laws Income Tax Fri, 15 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331520