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TMI Blog2014 (7) TMI 467X X X X Extracts X X X X X X X X Extracts X X X X ..... on the basis of surmise and presumption in impugned assessment order passed by AO. 2. On the facts and in law, ld. CIT(A) has erred in sustenance of impugned additions of Rs. 56,073/- made by AO while passing impugned assessment order for credits in Bank accounts of other persons." 2. At the outset it was submitted by the ld AR that both the issues raised above are covered by earlier order of the Tribunal. Reference was made to the order dated 24/08/2012 passed in ITA No.2976/Mum/2012 for the assessment year 2003-04. The issue raised in the first ground pertains to addition made on account of low household expenses. For the year under consideration the family of the Assessee has shown total household expenses of Rs. 82,685/-. Rs. 50,000/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he 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 specially, on the facts stated that sums aggregating Rs. 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) Rs. 1,00,000/-, therefore, the same is directed to be deleted. In the result, ground No.1 raised by the assessee is allowed." 2.1 Thus it was pleaded by the ld. Authorized Representative that the sustained addition should be deleted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , money, bullion, jewellery or other valuable article or things is/are found in the possession or control of any person in the course of search under section 132 or survey under section 132A, the same may be presumed to be belonging to the assessee. Before the authorities below, the assessee made a specific request that enquiry can be done from the respective bank under section 131 or 133(6) so as to look into the factum of ownership of the said bank accounts. In our opinion, the authorities below should have made such, an enquiry when the assessee has categorically denied the ownership of the bank account. It is true that under Section 292C onus is upon the assessee to prove that any asset or books of accounts etc. found from the possessio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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