ITAT reduces additions made on estimate basis by A.O. for low Household withdrawals

We have heard both the sides, considered the material on record and find that Assessing Officer made the impugned addition and CIT(A) confirmed the same , but inadvertently mentioned about addition of Rs.90,000/- instead of Rs.1,50,000. Since addition is on estimate basis and assessee has also given some basis for low withdrawals such as getting facilities from employer, free of cost etc, therefore, assessee deserves part relief. As such, we are of the view that it would meet the ends of justice, if the addition made and confirmed by the CIT(A) is

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