1980 (10) TMI 44

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..... ts and in the circumstances of the case, the Tribunal is right in holding that the statement of Shri Sushil Kumar recorded by the customs party on February 10, 1971, is a reliable piece of evidence ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal is right in holding that the addition under section 69A of the Income-tax Act on account of value of gold biscuits of Rs. .....

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..... d question is a question of fact. Keeping in view the facts and circumstances of the case, we are of the opinion that the question whether the assessee was entitled to deduction as a business loss in view of the confiscation of the gold, is essentially a question of law. We, accordingly, partly allow this petition and direct the Tribunal to refer question No. 2 to this court for its opinion. The .....

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