Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (2) TMI 1364 - ITAT KOLKATAUnexplained investment - difference in the investment disclosed by the assessee and as estimated by DVO in purchase of house property - condition precedent for making reference to the DVO u/s.142A - HELD THAT:- As in the present case the revenue could not establish that there is any material suggesting that the assessee paid any amount over and above the declared consideration. In term of the provisions of section 142A the reference to DVO can be made only when there is a requirement by the AO for making such reference and such requirement would arise when there is some material with the AO to show that whatever estimate or consideration declared by assessee is not correct or not reliable. The use of the word ‘require’ is not superfluous but signifies a definite meaning, whereby formation of mind even preliminary on objective basis by the AO is very much necessary. From the bare reading of assessment order, it does not suggest that there is any material which indicates that the assessee has paid any amount over and above the declared consideration for the purpose of making addition of unexplained investment u/s. 69 or 69B of the Act. In the absence of the same, the CIT(A) has rightly deleted the addition. We confirm the same. This issue of revenue’s appeal is dismissed. Low drawing for household expenses - CIT(A) directed the AO to delete the addition on account of low withdrawals since the AO made the addition on suspicion without considering the submission that apart from his drawings that there are drawings by his wife as well as drawings from HUF of which assessee is the Karta - HELD THAT:- The household drawing has merely been estimated by the AO without pointing out any specific expenditure being incurred by the assessee. We have gone through the provisions of section 69C of the Act and we noted that there must be evidence on record which may prove that the assessee had incurred expenses much more than what has been shown by the family members. In case the Revenue got shifted to the assessee to offer explanation about the source of such expenses to the satisfaction of the AO. Apparent is real onus is on the person who alleges apparent is not real. Our aforesaid view is duly supported by the decision of Daulat Ram Rawatmall ([1972 (9) TMI 9 - SUPREME COURT] - Hence, we find no infirmity in the order CIT(A) and the same is hereby upheld. This ground of revenue’s appeal is dismissed.
|