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TMI Blog1976 (3) TMI 39X X X X Extracts X X X X X X X X Extracts X X X X ..... of 1961 (hereinafter referred to as " the Act ") for a direction to the Income-tax Appellate Tribunal, Cuttack Bench, to state a case and refer the following question said to be of law arising out of the appellate decision of the Tribunal for the opinion of the court : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the declaration filed b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s by our order dated July 7, 1974, and we have confirmed the addition of the cash credits but some relief has been granted in respect of the income from the business. Even after our order, the difference between the income returned and the income assessed would be such as to attract the Explanation to section 271(1)(c). In considering whether the assessee has discharged the onus cast by the Explan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is to be proved that the amount added back was the income of the assessee. Apart from the allegation that the creditor was an erstwhile partner of the assessee and that his daughter had no sources of income, there is no direct evidence to show that the amount added back was the income of the assessee. The fact that it was deemed to be the income of the assessee by reason of section 68 is irrelev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the assessee's accounts had been credited with Rs. 10,000 on January 16, 1963, and with two amounts of Rs. 5,000 on 30th January, 1963. The Tribunal has as a fact found that the declaration furnished supporting material for the stand that the amount had come from the source of the declarant. It is true that at the assessment stage this explanation has not been accepted and there is force in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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