2007 (9) TMI 184

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... nd finding of fact recorded by tribunal couldn’t be made subject matter of reference
BHAGWATI PRASAD and MUNISHWAR NATH BHANDARI JJ. JUDGMENT The judgment of the court was delivered by MUNISHWAR NATH BHANDARI J.—Both these reference applications nave been filed under the provisions of section 256(2) of the Income-tax Act, 1961, by the Revenue. As, he subject-matter of both the reference appl .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ring the circumstantial evidence and deleting the addition of Rs. 1,55,000 made on account of undeclared payments made for the purchase of immovable property ? (2) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in law in altogether ignoring the circumstantial evidence and deleting the addition of Rs. 60,000 made on account of undeclared .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ns as the learned Tribunal had considered each and every aspect of the matter denying reference of both the questions to the hon'ble High Court. It was thus prayed that the reference applications moved by the Revenue should be rejected. 5. We have considered the rival submissions of the parties and find that the Assessing Officer had made additions of Rs. 1,55,000 and Rs. 60,000 on account of in .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ssessment. It is only on the basis of inferences drawn by the Assessing Officer while making assessment that additions were made. However, the said issue was carefully dealt with by the Tribunal while deciding the matter and otherwise the additions can be made only on the basis of incriminating document/material collected and assessed during the course of search. The various Benches of the Tribuna .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sing Officer based on inferences which does not fall within the scope of section 158BB of the Income-tax Act. Therefore in our opinion the two questions raised for reference cannot be said to be referable and thereby we find no fault in the order of the Tribunal. The factual position of the case has already been addressed by the Appellate Tribunal thus, the finding of fact recorded by the Tribunal .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X