TaxTMI 
TaxTMI 
2016 (11) TMI 1298
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....ssing Officer on the ground of alleged unexplained cash deposits in Bank Account with HDFC Bank. The aforesaid addition being arbitrary, perverse, based on surmises and conjecture the learned CIT(A) ought to have deleted said addition. The impugned addition may please be deleted. 2. The appellant denies his liability to pay any interest u/s 234B and 234C of the IT Act, 1961 and hence the same may please be deleted. 3. The issue raised in the present appeal is against the addition of Rs. 2,00,900/-. The assessee has also raised the issue against interest charged under section 234B and 234C of the Act. 4. Briefly, in the facts of the case, the assessee had furnished return of income declaring total income of Rs. 2,07,064/-. In response ....
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....The learned Authorized Representative for the assessee referred to the bank summary of the bank account maintained by the assessee, which is placed at page 1 of the Paper Book and pointed out that there were some cash withdrawals, which in turn, had been utilized for the purpose of cash deposits in the bank account. Another plea raised by the learned Authorized Representative for the assessee in respect of withdrawals made by the husband of assessee totaling Rs. 6,43,200/- and it was pointed out that part of the said amount was utilized by the assessee for deposits into the bank account. The learned Authorized Representative for the assessee also referred to the bank statement filed by the assessee. 8. The learned Departmental Representati....
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....h, sum of Rs. 69,300/- was deposited on 21.06.2006. The assessee at best has explained the availability of Rs. 31,000/- as cash in hand because the earlier withdrawals made by the assessee were too petty. On a particular date, the assessee was sometimes making withdrawals of two different amounts i.e. on 26.04.2006, there was ATM withdrawal of Rs. 1500/ - and another ATM withdrawal of Rs. 400/ -. Similar entries are found on various dates i.e. on 01.07.2006, there is ATM withdrawal of Rs. 1000/- and another withdrawal of Rs. 1000/- on the said date itself. Further, on 05.07.2006, the assessee had withdrawn sum of Rs. 1000/-. The withdrawals made by the assessee thus, do not inspire confidence that the some constitute balance cash in hand av....