1994 (11) TMI 54

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..... 1. Whether, on the facts and in the circumstances of the case the finding of the Tribunal that the explanation of the assessee in respect of the cash credit of Rs. 50,000 was bona fide and all facts relating to the same were disclosed by the assessee so as to be covered by the proviso to clause (B) of Explanation 1 to section 271(1)(c) of the Income-tax Act, 1961, is based on any material or perv .....

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..... lars of such income. This is a finding of fact. The reference is answered in favour of the assessee and against the Department. The decision in CIT v. K. R. Sadayappan [1990] 185 ITR 49 (SC) has no manner of application to the facts of the present case. From a perusal of the aforesaid findings of the Tribunal, it would be noticed that the findings are based on an appreciation of materials that a .....

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..... e assessee had placed all the facts relating to the deposit, his explanation is not found to be false. In other words, the Tribunal came to the conclusion that it was a case of inability on the part of the assessee to substantiate its explanation before the Departmental authorities. The question whether there was any concealment of income, is purely a question of fact and this position is finally .....

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