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TMI Blog1958 (4) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... akhs to 10 lakhs and that being so, in view of the only source of income mentioned earlier, it was impossible to believe that he had another seven lakhs of rupees in notes in December, 1945, as alleged by him. The Tribunal then held that in these circumstances, the appellant's uninvested cash was likely to be between ₹ 1,50,000 and ₹ 2,00,000 out of which a sum of ₹ 1,40,000 at the most could have been in high denomination notes. In this view of the matter the Tribunal held that out of the high denomination notes of the total value of ₹ 2,68,000 encashed by the appellant in January 1946, notes worth ₹ 1,40,000 could have been his capital assets and the balance of ₹ 1,28,000 must have been his undisclosed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt challenges the correctness of this finding. The appellant was assessed to income-tax for the year 1946-47 as a non-resident British subject, and out of the proceedings of this assessment the present appeal arises. The relevant accounting year was the period from November 6, 1945, to April 9, 1946. The appellant was a resident of Ratangarh in the Princely State of Bikanere outside what was British India. On November 6, 1945, he started a business in Calcutta, the accounts of the first year of which were closed on April 9, 1946. On January 19, 1946, the appellant came to Calcutta with 11 ten thousand rupees and 158 one thousand rupees currency notes which he encashed a few days later through the Punjab National Bank under the provisions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n it a sum of Rs. 1,28,000 as undisclosed income. The appellant challenges the correctness of the Tribunal's decision before us. The learned counsel for the appellant admitted that he could not ask us in this appeal to reassess the evidence and to come to a conclusion of our own on it. It is not the practice of this court to do so. The learned counsel relied on Mehta Parikh Co. v. Commissioner of Income-tax where it was said : " The court would be entitled to intervene if it appears that the fact finding authority has acted without any evidence or upon a view of the facts, which could not reasonably be entertained or the facts found are such that no person acting judicially and properly instructed as to the relevant law would have c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e was that it was not the practice to note in the account books the numbers of the one thousand rupees notes. The appellant contended that he had proved by these books of account that the notes had been received by him from his father. The Income-tax Officer did not accept the books as genuine. He also held that it had not been proved that the father had carried on any business in Calcutta to be able to amass a large fortune as stated by the appellant. The Appellate Assistant Commissioner set aside the findings of the Income-tax Officer and held that there was no reason to doubt the genuineness of the books and that it had been proved that the father carried on business in Calcutta as stated by the appellant and had amassed a large fortune. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anted to the near relations. In these circumstances the Tribunal felt that the books were of such a nature that they could be written up any time that the appellant wanted to. The Tribunal lastly held that the books did not contain a complete record of all the dealings of Mohanlal during the long period from 1926 to 1942. The learned counsel for the appellant has not been able to show that the Tribunal's remarks on the Ratangarh books of account were wrong on the facts. He directed his attention largely in establishing that the reasons given by the Appellate Assistant Commissioner for accepting the Ratangarh books as genuine, were correct and preferable. That clearly is a matter into which we cannot go for we cannot appraise the evidence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... held that in these circumstances, the appellant's uninvested cash was likely to be between Rs. 1,50,000 and Rs. 2,00,000 out of which a sum of Rs. 1,40,000 at the most could have been in high denomination notes. In this view of the matter the Tribunal held that out of the high denomination notes of the total value of Rs. 2,68,000 encashed by the appellant in January 1946, notes worth Rs. 1,40,000 could have been his capital assets and the balance of Rs. 1,28,000 must have been his undisclosed income. The Tribunal therefore directed that the appellant must pay tax on the sum of Rs. 1,28,000. The learned counsel for the appellant criticised this part of the Tribunal's judgment as based on mere speculation. We cannot help feeling that this cr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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