SONA ELECTRIC CO Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE following question was directed by this Court to be referred to this Court as per order passed in IT Case No. 5 of 1973, dt. 18th Oct., 1973 :

(2.) THE facts of the case as set out in the statement of case submitted to this Court can now be summarised. The assessment year was 1967 -68 and the relevant previous year ended on 31st March, 1967. The assessee had supplied goods to M/s Hind Electric Stores, Chandni Chowk, Delhi, as per Bill No. 1458, dt. 6th Feb., 1967. These goods were worth Rs. 16,551.09. According to the assessee, this amount was received in cash as follows :

(3.) THE ITO concluded that the statement in M/s Hind Electric Stores' books was correct and the assessee had introduced its own cash on the three dates which was, therefore, income from undisclosed sources. The AAC rejected the appeal and the Tribunal also affirmed the ITO's decision. The facts relied upon by the Tribunal were that the bearer cheque was got encashed by Shri Sardari Lal in July, . Rs.