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2016 (1) TMI 1434 - AT - Income TaxAddition on account of cash found at the residence of assessee - search and seizure operation conducted at the residence of the assessee - undisclosed income - HELD THAT:- Addition sustaining cash was properly explained by the assessee and there was case made out to the extent that there were several members in the family who would require the medical assistance at any time. The fact that ₹ 2,00,000/- was surrendered by the assessee should be in support of the assessee and hence the said addition of ₹ 77,200/- is allowable and AO as well as CIT(A) has overlooked the said factor Gold jewellery seizure - CIT(A) has rightly directed the AO restricting the same as to the balance after giving the benefit of 1500 grams only and while giving the appeal effect, the value of the jewellery may be worked out. Addition on account of undeclared business income - CIT(A) has justified its finding by stating that AO has come to the conclusion on the basis of the seized documents which was not challenged by the assessee at any point of time. Addition on account of low drawings made by the assessee for household expenses to the extent of ₹ 3,00,000/- are properly dealt by the CIT(A).
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