JAYANTILAL CHUNILAL JAIN,MUMBAI vs ITO 112(2)(3), MUMBAI

Income Tax Appellate Tribunal, MUMBAI BENCH “J”, MUMBAI

Before: SHRI D.KARUNAKARA RAO & SHRI SANDEEP GOSAIN

For Appellant: Shri Sudhir Kharwar

For Respondent: Shri Bhanwar Singh

Hearing: 06.10.2015Pronounced: 13.01.2016

per the submissions of the AR, assessee is leading simple life. We have also considered that the assessee has been paying society and electricity charges separately by cheques and have also noted that the Gas cylinder payments were also being made by cheques. After considering all the facts and circumstances of the case, we are of the opinion that the estimation of Rs. 30,000/- p.m. taken by AO is a bit excessive considering the facts of the present case, therefore, we hold that the monthly expenses of the assessee is Rs. 20,000/- p.m. i.e. 2,40,000/- p.a. and since the assessee has already declared cash withdrawal 85,050/-, therefore, the balance of Rs. 1,54,950/- is directed to be added to the total income.

12.

In the result, appeal filed by the assessee is accepted and AO is directed to take the monthly expenses of the assessee at Rs. 20,000/- p.m.

Order pronounced in the open court on this 13thday of January, 2016.

JAYANTILAL CHUNILAL JAIN,MUMBAI vs. ITO 112(2)(3), MUMBAI