9911796707
TMI Blog2014 (1) TMI 596X X X X Extracts X X X X X X X X Extracts X X X X ..... are sufficient to meet the domestic expenses – Decided partly in favour of Assessee. - ITA No. 1518/Hyd/2012 - - - Dated:- 2-7-2013 - Shri Chandra Poojari And Smt. Asha Vijayaraghavan,JJ. For the Appellant : Sri A. V. Raghuram For the Respondent : Sri D. Sudhakar Rao ORDER Per Chandra Poojari, AM:- This appeal preferred by the assessee is directed against the order of the CIT(A)-IV, Hyderabad dated 29/06/2012 for assessment year 2002-03. 2. Briefly the facts of the case are that the assessee submitted a cash book showing an opening balance of cash of Rs. 5,21,382/-. However, he could not furnish any proof for the cash balance so shown on 01/04/2001. The Assessing Officer noticed that the assessee had not filed any re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elf admitted the opening balance as on 01/04/2001 was Rs. 1,382/- only and, hence, it is clear that there was no basis for the cash opening balance of Rs. 5,21,382/- shown as on 01/04/2001. He noted that the assessee had not even filed the return for the AY 2001-02 so as to verify the facts in this regard. The CIT(A) concluded that since the assessee had not been able to furnish any evidence regarding opening balance of cash of Rs. 5,21,382/- as on 01/04/2001, the addition of Rs. 5,21,382/- made by the Assessing Officer was upheld. 4. Still aggrieved, the assessee is in appeal before us and has raised the following grounds of appeal: "1. The order of the CIT(A) is erroneous both in law and in the facts and circumstances of the case. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent years 2003-04 to 2007-08 vide order dated 04/01/2013 wherein the coordinate bench directed the Assessing Officer to restrict the addition to 50% (i.e from Rs. 40,000/- to Rs. 20,000/-) made by the Assessing Officer on account of low withdrawals by observing as under: "We have heard the rival contentions and carefully perused the record. We notice that the Special Bench, in the case of All Cargo Global Logistics Ltd. (supra), has given importance to the seized materials with regard to the completed assessments, whereas in the instance case, the additions towards lo w withdrawals have been made both in pending assessments and completed assessments. Hence, the question whether the ratio of Special Bench decision (referred supra) shall ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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