TMI Blog2014 (7) TMI 123X X X X Extracts X X X X X X X X Extracts X X X X ..... dition on account of low household withdrawals as confirmed by the CIT(A) – Decided in favour of Assessee. Unexplained money u/s 69A of the Act – Held that:- The assessee made a specific request that enquiry can be done from the respective bank u/s 131 or 133(6) so as to look into the factum of ownership of the bank accounts - the authorities should have made an enquiry when the assessee has categorically denied the ownership of the bank account – u/s 292C onus is upon the assessee to prove that any asset or books of accounts etc. found from the possession of the assessee, the presumption is raised against the assessee - the assessee has clearly stated that the bank officials have refused to divulge the information about the clients - th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... did not had any income, therefore, no return of income has been filed for the assessment year 2003-2004. In subsequent to assessment order 2003-2004 , the assessee got associated with Mr. Madan Colambekar. A search and seizure action under Section 132(1) was carried out in the case of Mr. Madan Colambekar group on 22-2-2009 and in consequent to search action, a notice under Section 133A was issued on 20-8-2009. In response to which the assessee did not file any return as he had no income. The Assessing Officer observed that there must be some income of the assessee during the year under consideration to take care of household expenses. Therefore, he estimated the income based on household expenses at ₹ 1,80,000/- for the year under c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... him. Without there being any contrary material on record, such an addition was not called for. Learned CIT(A) partly accepted the contention of the assessee, however, estimated the household expenses at ₹ 1,00,000/- on the ground that the assessee was engaged in business of vegetable vending during that period. As regards the addition of ₹ 17,126/-, the assessee reiterated his submission that the two bank accounts for which addition was made viz. (a) Cosmos Coop Bank Ltd.-S.B.A/c No.220393 and (b) Tamilnadu mercantile Bank Ltd.-A/c No.280173, did not belong to him and for this purpose, he has requested the Bank Manager to give name and address of the person of the bank account holder, which was not made available to the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ying with his mother, who was managing the house by preparing tiffin and home made food for the various persons. There is no further material or information on record that the assessee in the relevant financial year has incurred any expenditure which has not been disclosed. In absence of any material on record, we do not find any reason for estimating any kind of household withdrawals specifically, on the facts stated that sums aggregating ₹ 31,000/- was shown by his mother and himself for the household expenses. Under the facts and circumstances of the case, we do not find any reason to sustain any kind of addition on account of low household withdrawals as confirmed by the CIT(A) ₹ 1,00,000/-, therefore, the same is directed t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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