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TMI Blog2001 (3) TMI 65X X X X Extracts X X X X X X X X Extracts X X X X ..... t the instance of the Revenue. The following questions have been referred to this court, under section 256(2) of the Income-tax Act, 1961: "(1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in deleting the addition in its entirety? (2) Whether, on the facts and in the circumstances of the case, the Tribunal had acted on materials or evidence before it to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x (Appeals) set aside that assessment directing the Assessing Officer to make a fresh assessment after affording the assessee an opportunity to explain the discrepancy. Thereafter, the Assessing Officer caused enquiries to be made with the sales tax authorities and found that in the course of the sales tax proceedings, the assessee had prepared a trading profit and loss account for the entire acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before the sales tax authorities and given with the income-tax return. After going into the details of the two statements, it is found that the opening stock of cashew nuts as given before the sales tax authorities is 1994 bags as against 778 bags. In respect of the local purchase of nuts, the difference between the two figures is only of seven bags. Since the assessee had shown excess opening s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al or not. According to us, this is a question of mixed law and fact. As was observed in CIT v. Bedi and Company Private Limited [1998] 230 ITR 580 (SC), the High Court will not address itself to recording findings of facts, unless the subject-matter of the question referred to it by the Tribunal, either under sub-section (1) or sub-section (2) of section 256 of the Income-tax Act relates to the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore, incurred for the purposes of the business". It further held as follows: "The High Court overlooked the cardinal principle that it is the Tribunal which is the final fact-finding authority. A decision on the facts of the Tribunal can be gone into by the High Court only if a question has been referred to it which says that the finding of the Tribunal on the facts is perverse, in the sense tha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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