9911796707
TMI Blog2001 (1) TMI 25X X X X Extracts X X X X X X X X Extracts X X X X ..... 2) of the Income-tax Act, 1961 (in short "the Act"), in ITC No. 279 of 1979, the Income-tax Appellate Tribunal, Delhi Bench-D ("the Tribunal" in short), has referred the following question for the opinion of this court: " Whether, on the facts and in the circumstances of the case, the Tribunal had enough material to come to the conclusion that Mohd. Masoom was not the owner of the gold which was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rched the boxes and found 1,550 tolas of primary gold which were seized. The authorities also kept a watch on the parcels received by the same train on April 11, 1973. On that date also two parcels had arrived from Bombay from which they recovered 500 tolas of primary gold. The assessee was examined by the Intelligence Officers. He admitted before them to have carried on the activities of smugglin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income. The assessee preferred an appeal before the Appellate Assistant Commissioner ("the AAC" in short). The said authority affirmed the conclusions of the Assessing Officer. The matter was carried in further appeal before the Tribunal. The stand of the assessee was accepted and the addition was deleted by the Tribunal. The relevant observations of the Tribunal are contained in paragraph of i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) of the Act was turned down. However, on being moved under section 256(2) of the Act a direction was given by this court to refer the question as set out above. We have heard learned counsel for the Revenue. There is no appearance on behalf of the assessee in spite of notice. Learned counsel for the Revenue submitted that the conclusions of the Tribunal are erroneous and contrary to the facts. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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