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2018 (12) TMI 688 - AT - Income TaxAssessment u/s 153A - proof of incriminating material was found during the course of search - addition under unexplained cash credit - Held that:- DR could not controvert the submissions of the assessee that no incriminating documents was found. Moreover we find that the addition is sustained merely on the basis of presumptions. We therefore direct the AO to delete this addition. Follow KABUL CHAWLA case [2015 (9) TMI 80 - DELHI HIGH COURT] Cash expenditure unexplained - Held that:- Looking to the details of Assessment Year 2013-14 and 2014-15 wherein the assessee has spent ₹ 2,59,405/- and ₹ 1,95,700/- as cash expenditure for household needs along with incurring of household expenses by cheque at ₹ 33,866/- and ₹ 22,097/- , the additions sustained by Ld. CIT(A) is only to the extent of ₹ 24,000/- and ₹ 20,625/-. Looking to the regular earning source of the assessee and her husband, we find no justification in the finding of Ld.CIT(A) confirming the addition for ₹ 24,000/- and ₹ 20,625/- towards unexplained cash deposit. We therefore direct the Ld.A.O to delete the addition of ₹ 24,000/- and ₹ 20,625/- for the Assessment Year 2013-14 and 2014-15. Amount received from husband towards household expenses - Held that:- No material on record in the form of balance sheet or capital account of the assessee’s husband has been filed which could prove that Rajeev Mazumdar has given ₹ 3,60,000/- to his wife for household needs. This fact could be verified only from the capital account of Shri Rajeev Mazumdar for Assessment Year 2015-16 and for this we direct the Ld. A.O for carrying out the necessary verification by calling details from the assessee after providing sufficient opportunity and if it is found that Rajeev Mazumdar has shown cash withdrawal of ₹ 3,60,000/- for household needs from his capital account, then the cash flow statement given by the assessee should be accepted and the alleged addition to be deleted. Gold jewellery found in the lockers held by the assessee - Held that:- We find that Ld.CIT(A) has only given relief for the gold jewellery but did not accept the fact that in the Indian customs and traditions at the time of marriage silver utensils are also given to the bride. It is quite possible that the word silver utensils were not included in the CBDT instructions because at that point of time silver utensils were not coming under the category of capital assets. In our considered view Ld. CIT(A) ought to have taken a liberal approach by giving the benefit to the assessee for the value of gold jewellery and value of silver utensils held by her, within the monetary limit of value as on the date of search of the gold jewellery ornaments and permitted to be held, as provided in the CBDT Instruction No.1916 dated 11.5.1994. We accordingly direct the Ld.A.O to delete the addition of ₹ 34,495/- made for Assessment Year 2015-16 for silver utensils found in the locker owned by the assessee.
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