9911796707
TMI Blog1984 (3) TMI 78X X X X Extracts X X X X X X X X Extracts X X X X ..... at the withdrawals made by the assessee worked out to Rs. 8062 for asst. yr. 1978-79 and Rs. 8150 for asst. yr. 1979-80. He further found that the assessee was head of the family consisting of himself, his wife, his brother and his family. The total withdrawals made by each of the members of the family, as set out in details by the ITO, worked out to Rs. 25,014 for asst. yr. 1978-79 and Rs. 31,766 for asst. yr. 1978-79. The ITO observed that the total withdrawals so made were inadequate keeping in view the High standard of living of the assessee. Relying on the fact that a search was carried out under s. 132 on 27th Sept., 1974 and the data collected at that time the ITO held that the withdrawals were not adequate. He further found that sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stainable. He, therefore deleted the said additions. Hence, these appeals by the Revenue. 3. Before us Shri Malik submitted that looking to the high standard of living of the assessee as discussed by the ITO in his order the household expenses disclosed by the assessee were inadequate. The assessee lived in a stylish manner in a posh locality and possessed various gadgets as also air conditioners, refrigerators, etc. Thus having regard to the standard of living noted by the ITO the expenses disclosed by the assessee on household accounts for both the years were on a low side. Shri Malik pointed out that according to the decision of their Lordships of the Punjab and Haryana High Court in case of Vidya Sagar Oswal vs. CIT, Patiala (1976) 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... facts were deleted by the AAC and the Department had not preferred any appeal. Similarly the household expenses at Rs. 39,740 for asst. yr. 1980-81 were also accepted by the ITO. The assessee had filed an exhaustive written submission before the AAC stating full details of the expenses and how they were met by withdrawal from accounts of different members of the family and the AAC was satisfied with regard to the explanation and was pleased to delete the additions. He therefore submitted that no interference was called for in regard to the decision of the AAC for both the years. We have considered the rival submissions. We have no quarrel with the broad proposition canvassed on behalf of the Revenue that when the household expenses are f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for purchase of these assets were made during the relevant previous year but the same was not recorded in the books. Similarly there is no evidence to show that the electricity expenses which were incurred to run the air conditioner were not properly accounted for. The entire basis of addition is on conjectures and surmises based on event unconnected with the assessment years under appeal. Therefore we see no reason to interfere with the decision of the AAC. Now, Shri Malik has made a very important point based on decision in Oswal's case. Now we examine the facts in that case. It is clear that the assessee concerned was a leading industrialist who had disclosed household expenses of Rs. 2000 per annum as against his income of Rs. 86,029. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
