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2017 (10) TMI 242 - AT - Income TaxHousehold expenses of assessee being an Ex-MP and Ex-MLA - Held that:- The agricultural land has been duly reflected in the Balance Sheet as on 31.03.2008 and drawings of ₹ 1,44,000/- shown by the Assessee in his Balance Sheet as on 31.03.2008 is not reflected in any of the Bank statements and Ld. CIT(A) has not considered the fact that the Assessee had adequate cash in hand of ₹ 3,87,000/- to meet his personal expenses. Even after meeting his personal expenses he has been left with cash of ₹ 3.87 lakhs in his hand during the relevant period. Keeping in view of the facts and circumstances of the case, we are of the considered view that ₹ 1,44,000/- is a meager sum considering the status of the assessee but it was ignored by the lower authorities that by virtue of the status of the Assessee most of his expenses are either free since he is eligible for such privileges and benefits as an Ex MP and Ex MLA or are reimbursed for the same reason. Hence the drawings incurred by him are adequate and the same have been duly shown in the Balance Sheet. We further find that no contrary evidence has been brought on record by the revenue to the averments made by the assessee. In view of the above, the addition in dispute is deleted and ground raised by the Assessee is allowed.
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