2014 (9) TMI 925

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.... ORDER Bhavnesh Saini (Judicial Member).- This appeal by the assessee is directed against the order of the learned Commissioner of Income-tax (Appeals)-II, Ludhiana, dated March 8, 2013, for the assessment year 2008-09 challenging the addition of Rs. 11,47,000. 2. Briefly the facts of the case are that the Assessing Officer found that there was cash deposits of Rs. 11,47,000 in account ....

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....ithdrawn substantial amount from another bank account with Punjab National Bank (copy of which is also filed in the paper book) and submitted before the Assessing Officer to show that sufficient amounts have been withdrawn for the purpose of depositing amount in Citi Bank. He has further submitted that the assessee has made withdrawals from the same bank account with Citi Bank (copy of which is....

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....nsideration of rival submissions, we are of the view that the matter requires reconsideration at the level of the Assessing Officer. The assessee in the paper book filed copy of notice issued by the Assessing Officer and replies submitted before the Assessing Officer in which the assessee has filed copy of bank statement of Punjab National Bank before the Assessing Officer to show that there were ....