Relevant Judgemnt for all- Old savings by the housewife for meeting the household expenses can not be treated as unaccounted cash: ITAT, Delhi

Old savings by the housewife

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Old savings by the housewife for meeting the household expenses can not be treated as unaccounted cash: ITAT, Delhi
*Shri Raj Kumar Kakrania Vs. DCIT, New Delhi*
*Date of pronouncement: 30.05.2018*
After considering the submissions made by the parties, we find that although the bank withdrawal, household expenditure and the contribution made by the wife is not subject to proper verification however, some availability of cash with house wife with old savings and some with the assessee cannot be ruled out. Under the facts and circumstances of the case, we hold that out of 5,25,000/-, sum of Rs.2,25,000/- may be treated as explained in view of cash withdrawals and availability of some cash with his wife who is elderly lady.

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