PURAN MAL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE petitioner is seeking reference of questions all of which pertain to an item of alleged profit of Rs. 3,41,655. This amount has been taxed in the hands of the petitioner.

(2.) TWO questions which arise are whether this income had accrued and, secondly, whether this income belonged to Smt. Gitesh Bansal or the petitioner.

(3.) THE further fact which has been taken into consideration by the Tribunal is that the petitioner has himself filed a suit for recovery of Rs. 5,60,000 which includes the said amount of Rs. 3,41,655. In view of the aforesaid fact, the Tribunal has concluded that the said income of Rs. 3,41,655 had in fact arisen. This conclusion arrived at by the Tribunal is one of fact and is based on evidence and, in our opinion, no question of law arises.