COMMISSIONER OF INCOME TAX Vs. BEENA RUBBER WORKS

JUDGEMENT

(1.) THE Revenue prays for a direction for a reference of the following six questions: 1. Whether, on the facts and in the circumstances of the case and also in the light of the facts narrated in the enclosure to the reference application, the Tribunal is right in law and fact in holding that the order of the CIT (A.) in deleting the addition was just and warranted?

(2.) WHETHER , on the facts and in the circumstances of the case and on a perusal of paragraph 4 of the order of the CIT (A.) which shows that the assessees explanation was that the deposits at Calicut were the withdrawals of partners from the assessee on earlier days, the Tribunal is right in fact and in law in holding that the explanation of the assessee that the amounts were withdrawn from bank account of the assessee on 18th Feb., 1982, and deposited the same at Calicut on the same day was before the AO and is not the above finding factually wrong and the order, based on baseless facts, vitiated ?

(3.) WHETHER , on the facts and in the circumstances of the case and in view of the facts that there were deposits of Rs. 1,00,000 and Rs. 50,000 on 18th Feb., 1982, out of which the AO considered the sum of Rs. 1,00,000 as unexplained; another sum of Rs. 50,000 considered by the AO was the deposit dt. 1st March, 1982, the Tribunal is right in law and fact in holding that the entry on 1st March, 1982, was only a correcting entry for 18th Feb., 1982, as held by the CIT (A.) page 9and are not the above findings of correction and the finding as held by the CIT (A.) wrong and against facts since the CIT (A.) did not enter such a finding ?