2011 (3) TMI 1731

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....avi Shankar For the Respondent : Sarita Kumari, DR ORDER Sushma Chowla (Judicial Member) These two appeals by two separate assessees are against the separate orders of the Commissioner of Income-tax (A), dated 30.8.2010 relating to assessment year 2006-07 against the orders passed under section 143(3) of the Income-tax Act. 2. Identical issues have been raised in the present appeals....

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....ccount reveals the assessee to have withdrawn cash of Rs. 7,94,000/- on 19.10.2005 and Rs. 2,50,000/- on 27.10.2005. The assessee had deposited cash on 16.11.2005 i.e. Rs. 3 lacs, Rs. 5 lacs and Rs. 2,80,000 and further Rs. 2 lacs on 11.2.2005. The source of the said cash deposit was explained by the assessee to be out of the withdrawals made in cash on 19.10.2005 and 27.10.2005. In the entirety o....

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....it on the aforesaid dates. Thus ground of appeal raised by the assessee is allowed. 4. The facts in I.T.A.No. 40/Chd/2011 are mutatis mutandis to the facts in I.T.A.No. 39/Chd/2011. The assessee has furnished on record the copy of the bank statement which reflected the cash withdrawal of Rs. 7 lacs on 28.9.2005 and re-deposit of cash of Rs. 1,02,000/- on 16.11.2005, Rs. 3,50,000/- on 29.11.2005....