TaxTMI 
TaxTMI 
2018 (11) TMI 1316
X X X X Extracts X X X X
X X X X Extracts X X X X
....RDER 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. Facts of the case in brief are that assessee is a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....T(A) has observed that the assessee has withdrawn an amount of Rs. 4,55,000/- from her bank account on 19/09/2009 and the bank balance as on 30/09/2009 was Rs. 41,231/-.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 purpose. The cash deposits made again on 06/11/2009 o....
X X X X Extracts X X X X
X X X X Extracts X X X X
....hen the Assessing Officer has asked the assessee what is the source of deposit, it is submitted that she has withdrawn Rs. 4,55,000/- from her bank account on 19/09/2009, the same is deposited again.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 the bank account on the same day in different amounts. T....