https://www.taxtmi.com/caselaws?id=195432 An addition for alleged low household withdrawals was deleted because it was based only on estimate and not on evidence of actual unexplained expenditure. Section 69C applies only where expenditure is actually incurred and its source remains unexplained; it does not permit a conjectural addition. The record showed no search material or other proof that the assessee had spent more than the drawings disclosed, and the family drawings taken together were higher than the amount assumed. The estimate also failed to account for related disallowances already made in the business concern for personal elements such as electricity, telephone, conveyance and vehicle depreciation. en-us Fri, 01 Jan 2016 00:00:00 +0530 Tue, 31 Oct 2017 10:26:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195432 An addition for alleged low household withdrawals was deleted because it was based only on estimate and not on evidence of actual unexplained expenditure. Section 69C applies only where expenditure is actually incurred and its source remains unexplained; it does not permit a conjectural addition. The record showed no search material or other proof that the assessee had spent more than the drawings disclosed, and the family drawings taken together were higher than the amount assumed. The estimate also failed to account for related disallowances already made in the business concern for personal elements such as electricity, telephone, conveyance and vehicle depreciation. Case-Laws Income Tax Fri, 01 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195432