9911796707
TMI Blog1979 (5) TMI 79X X X X Extracts X X X X X X X X Extracts X X X X ..... assessees' claim of remittance of the said amounts from Ceylon. For the asst. yr. 1974-75 in the assessments of the above brothers the ITO likewise added sums of Rs. 1,81,789 and Rs. 1,71,790 as their income from "other sources" rejecting the assessee's explanation. For the asst. yr. 1975-76 in the assessments of the above brothers the ITO likewise added sums of Rs. 7,000 and Rs. 45,000 respectively as their income from "other sources" rejecting the assessees' explanation. 3. On appeal, the AAC of Income-tax deleted the above additions made for the asst. yrs. 1973-74 and 1974-75. The Department has come on appeal before us against the said orders of the AAC. For the asst. yr. 1975-76, however, a different AAC confirmed the additions. Agai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... commencing from the year 1955-56. The AAC in Para 4 of his orders passed for the asst. yrs. 1973-74 and 1974-75, has extracted the share incomes and the capital in Ceylon assessed to income and wealth-tax for the asst. yrs. 1967-68 to 1973-74. For the assessment 1973-74, the assessees furnished the balance-sheet of the Ceylon trade. The AAC has further found that for the asst. yr. 1974-75 when the wealth-tax returns were filed on 2nd Jan., 1974, the assessees had remitted whatever was possible to remit from Ceylon and the Wealth-tax returns themselves served as an intimation of remittances within two months of the completion of the final instalment of the remittance. The AAC found from the facts set out by him in detail in his orders that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e reliance upon the above circular. Even without the circular, the findings of the AAC referred to above to the effect that the assessees had sufficient resources in Ceylon which were admitted in the wealth-tax assessments, would support the order of the AAC. 6. The only point which we have to consider now is whether the explanation of the assessees that out of the funds available in Ceylon remittances were by the assessees to India through unofficial channels can be accepted. The AAC has held that the explanation was possible, probable and satisfactory. The learned departmental representative vehemently contended that such an inference cannot be made in view of the decision of the Madras High Court in CIT, Madras vs. Khateeb Mahmood(1). ..... X X X X Extracts X X X X X X X X Extracts X X X X
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