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2014 (2) TMI 562 - AT - Income TaxEstimation of income - applicability of section 44AF - Disallowance for Non-furnishing of authentic vouchers and payments – Held that:- The AO is of the view that the assessee does not claim the benefit under section 44AF and writes 'Nil' profit in column 33 sub clause (iii) - The assessee has not claimed the benefit of section 44AF in the return filed and also could not furnish the requisite vouchers to authenticate the purchases claimed by the assessee – thus, there is no reason to interfere with the orders in making adhoc disallowance of 10% towards purchases – Decided against Assessee. Disallowance of interest on unsecured loan – Addition of Payment of MVAT and Sales Tax – Non-submission of documentary evidence - Held that:- The CIT(A) stated that the assessee has not produced any evidence towards purchase of plot of land, flat and residential premises - No details in respect of the sources as to how they were utilised for purchase of the above assets were furnished before him to show that the investments on the above assets were made in the earlier years - no evidences were filed by the assessee to controvert the facts as stated by the learned CIT(A) – thus, there is no reason to interfere with the order of the CIT(A) – Decided against Assessee. Addition made on account of low withdrawals for household expenses – Held that:- The CIT(A) has rejected the claim of the assessee of withdrawals of his wife and his son merely because the assessee had not produced copies of the bank account, evidence of source of income and expenditure incurred - Considering the submissions of the assessee and the fact that the assessee has shown total withdrawals without giving further brake up by the authorities - the addition on account of low withdrawals for household expenses is not justified as the same is not supported by facts by the authorities – thus, the addition is set aside – Decided in favour of Assessee.
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