1957 (3) TMI 57

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..... as the financing partner holding a 13a. share, and Debi Dayal and Dwarka Nath, working partners holding 2a, and 1a. respectively in the assessment year in question 1944-45, the relevant accounting year being July, 1942 to July, 1943. In this relevant accounting year, there were found in the books of account of the firm two credits of the sums of ₹ 10,000 and 15,000 on the 31st December, 1942 .....

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..... ferred for our opinion by the Income-tax Appellate Tribunal: Whether there was any material on record to establish that the sum of ₹ 15,000 was taxable income of the assessee? When arguing this question before us, Mr. Pathak has drawn our attention to the finding given by the Income-tax Appellate Tribunal in the appellate order to the effect that these deposits of ₹ 10,000 and .....

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..... sessee's contention that this money was brought into accounts of the firm by Munna Lal, the financing partner. Once that explanation was accepted by the Tribunal, we fail to see how any part of that amount could be held to be the revenue income of assessee firm. The acceptance of the plea that the money was brought in by Munna Lal involves in it a finding that Munna Lal was the owner of this e .....

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