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TMI Blog1986 (1) TMI 151X X X X Extracts X X X X X X X X Extracts X X X X ..... of the order of the Tribunal dt. 24th Sept., 1985 in ITA No. 480, of 1984 relating to the asst. yr. 1977-78 to the Hon'ble High Court of Punjab and Haryana at Chandigarh under s. 256 (1) of the IT Act, 1961: "1. whether, on the facts and in the circumstances of the case, the Tribunal have erred in law in holding that the assessee had disclosed all the primary facts fully and correctly in part I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee in part III of the return which runs into three quarters of a page. This extract is reproduced below for ready reference: "Noted in part III claim to be exempt of the Return. perusal of the balance sheet of the firm (Liabilities side i.e. credit side) reveals that Rs. 5,80,884, is standing on the credit side in the name of firm's capital a/c. The assessee firm to has/give the above am ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as remission does not arise. As already submitted, It can at the most be treated as deemed gift from different firms. Aggregate of such items was Rs. 5,80,884. This has not been included in the statutory income in the return. Details of Rs. 5,80,884 can be filed on demand. This fact is brought to the notice of the Department and this may kindly be considered at the time of assessment and further ..... X X X X Extracts X X X X X X X X Extracts X X X X
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