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2014 (1) TMI 587 - AT - Income TaxAddition made towards low withdrawals – Withdrawals made for domestic expenses – Held that:- The tax authorities have estimated the amount of addition, uniformly at ₹ 40,000/- in all the years - the tax authorities have not given any basis for arriving at the figure of ₹ 40,000 - Both the assessing officer and the learned CIT(A) have tabulated the withdrawals made by the assessee and his family members and we notice that there is some difference in each of the tabulation - the assessee also could not bring any material on record to show that the withdrawals made by him and his family members are sufficient to meet the domestic expenses - the assessing officer directed to restrict the addition 50% of the additions made by the assessing officer – Decided partly in favour of Assessee.
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