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TMI Blog1968 (8) TMI 5X X X X Extracts X X X X X X X X Extracts X X X X ..... m cloth and silk fabrics and has its head office at Banaras and a branch office at Madura. In proceedings for assessment for the assessment year 1946-47 the Income-tax Officer declined to rely upon the books of account of the assessee, and estimated the business profits of the assessee by applying a flat rate of 12 1/2% to the turnover of the business. The Income-tax Officer also found in the books of account an entry dated January 15, 1945, of a deposit of Rs. 20,000 in the name of Messrs. Banshidhar Rawatmal of Ratangarh. The Income-tax Officer called upon the assessee to prove the nature and Source of this deposit and, after considering the evidence produced by the assessee, rejected the plea of the assessee that the amount was deposi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... " Whether, on the facts and in the circumstances of the case, there was any material to hold that the sum of Rs. 20,000 was income of the assessee from other source and was not income included in the assessed income on the rejection of the books of account ? " The Tribunal in making the reference observed that " at no stage of the proceeding did the assessee urge that the sum of Rs. 20,000 got merged with the estimate of profit made in the business at the head office " ; the only objection raised by the assessee was that the sum should not have been added as income from some undisclosed source. The High Court considered. the matter in great detail and recorded an answer in favour of the assessee. The Commissioner has appealed again ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is not before the court but in the petition under section 66(2) before the High Court it was claimed that the following three questions arose out of the order of the Tribunal. " (a) Whether in view of the statement of Banshidhar and other witnesses proving the deposit, it was still opera to the department to treat the amount of Rs. 20,000 belonging to Banshidhar as being income from undisclosed source. (b) Whether there was any further burden of proof to have been discharged by the assessee in respect of the item of Rs. 20,000 a order to be income from being taxed for Rs. 20,000 for a sum not belonging to the applicant. (c) Whether, it was competent to the department, both to add to the quantity of sales and the rate in the circum ..... X X X X Extracts X X X X X X X X Extracts X X X X
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