1995 (3) TMI 72

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..... s court for opinion : " Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in setting aside the finding relating to the addition made of Rs. 1,89,936 by resorting only to the provisions of section 69D and in restoring the matter to the Income-tax Officer to examine the genuineness of the borrowings on general principles after considering all the evidence and .....

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..... oes not arise for consideration at this stage. We, accordingly, return the reference with a direction that such a question does not arise for consideration at present and keep open all the contentions. However, the case should be decided in the light of the Division Bench decision of this court in CIT v. Paranjothi Salt Co. [1995] 211 ITR 141, in the event it is held that the transactions are gen .....

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