2018 (11) TMI 1316

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.... Department : Shri K.C. Das, Sr.DR ORDER PER V. DURGA RAO, JUDICIAL MEMBER This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals), Visakhapatnam, dated 28/02/2017 for the Assessment Year 2010-11. 2. The only ground pressed by the assessee is with regard to withdrawal amount of Rs. 4,55,000/- from the bank account for the F.Y. 2009-10. 3. Fa....

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....come from other sources'. 4. On appeal, ld. CIT(A) has observed that the assessee has withdrawn an amount of Rs. 4,55,000/- from her bank account on 19/09/2009 and the bank balance as on 30/09/2009 was Rs. 41,231/-. The assessee had made further cash withdrawal of Rs. 40.00 lakhs on 07/10/2009. This withdrawal itself shows that earlier withdrawal was utilized by the assessee for some other purp....

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....unt of Rs. 3,88,000/- and Rs. 1,12,000/- on 06/11/2009. When the Assessing Officer has asked the assessee what is the source of deposit, it is submitted that she has withdrawn Rs. 4,55,000/- from her bank account on 19/09/2009, the same is deposited again. The assessee has not filed any corroborative evidence and also not explained what is the purpose of withdrawal and why the same is deposited in....