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Raghunath Prasad (WORKING) (385 Points)

14 January 2011

if i withdrawl 2000000 rs and deposit after 20 days same amount

and assesing officer add my income

than tell me hw i do

tell me with case laws

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5 Replies

CA Sandeep Kumar (Audit Assistant) (804 Points)
Replied 14 January 2011

explian the transaction as to why it is not income to you.. give more details here.. wil surely help u.

Raghunath Prasad (WORKING) (385 Points)
Replied 15 January 2011

i am withdrawal 2000000 rs from my bank a/c

and after this i have deposited 2000000 rs deposit

assessing officer said that proff income 2000000 rs deposit

and i told that amount is withdrawal amount of 2000000 rs

than he told why u withdrawl this amount

i told property purcheses

but he add my income

CA Sandeep Kumar (Audit Assistant) (804 Points)
Replied 15 January 2011

see if you have purchased property from withdrawn amount, from where did you deposit again? I mean what is the source of income, out of which you have deposited again

Raghunath Prasad (WORKING) (385 Points)
Replied 15 January 2011

i have no purchase any property actualy i told that i have withdrawal amount for purchase property but some problam i have no purchase this and deposit amount

actualy i have use this amount in my company

CA Sandeep Kumar (Audit Assistant) (804 Points)
Replied 15 January 2011

Oh Ok then why was the amount added to your income.. show the IT officer necessary documents and get out of it.. no case laws for these.. there is question of any violation here..