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2021 (2) TMI 936 - AT - Income TaxAddition of low drawings for household expenses - Assessee submitted that the AO has made an addition without any basis but merely on estimation, which is a purely a guess work - Also addition restricted by the Ld. CIT(A) on ad hoc basis - HELD THAT:- CIT(A) has noted that aggregate of cash withdrawal during the year under consideration comes to ₹ 3,52,500/- and after considering this amount of withdrawal the addition made by the Assessing Officer was restricted to ₹ 1.00 lacs as against ₹ 3.00 lacs. Thus, it is clear that more than ₹ 3,50,000/- was withdrawn from the bank account during the year under consideration and it is not the case of NIL withdrawal by the assessee for household expenditure. Thus once the assessee has shown reasonable amount of cash withdrawals from the bank and the income of the other family members of the assessee is also not ruled out then the addition confirmed by Ld. CIT(A) of ₹ 1.00 lacs on account of short withdrawal for household expenditure is not justified and the same is deleted. - Decided in favour of assessee.
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