1985 (7) TMI 15

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..... ection 256(2) of the Income-tax Act, 1961, are as follows : " 1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is justified in deleting the addition of Rs. 74,704 made by the Income-tax Officer as income of the assessee from undisclosed sources on account of the difference in the position of stock as disclosed by the books of account and as shown in .....

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..... of the Tribunal on merits was based on a consideration of the material on the record, and raised no question of law. The controversy before the Tribunal arose because the list of goods hypothecated to Laxmi Commercial Bank differed from the stock-in-hand as disclosed by the account books of the assessee. The Income-tax Officer came to the conclusion that the extra stock disclosed in the list fil .....

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