COMMISSIONER OF INCOME TAX Vs. SHADIRAM BALMUKAND

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal has referred the following question for the opinion of this court:

(2.) IN assessment proceeding for the year 1954-55 the INcome-tax Officer discovered cash credits amounting to Rs. 1,13,450 in the account books of the assessee. The assessee was able to explain the nature and source of a total sum of Rs. 51,500, but for the balance his explanation was not accepted by the INcome-tax Officer. Subsequently, the assessee surrendered the balance of Rs. 61,915 for taxation in a revised return filed by it. When the INcome-tax Officer took up the assessment proceedings again he found still further cash credits over and above those which he had already discovered. The total of the further cash credits now detected by him amounted to Rs. 9,250. The assessee attempted to explain the nature and source of these cash credits, but his explanation was found unsatisfactory and the INcome-tax Officer added a further sum of Rs. 9,250 to the assessee's income. The assessee proceeded in appeal to the Appellate Assistant Commissioner of INcome-tax. The Appellate Assistant Commissioner, in turn, detected further cash credits in the assessee's account books and after issuing a notice of enhancement he included a sum of Rs. 46,601 as income from undisclosed sources. IN the order-sheet of the quantum appeal dated August 12, 1958, he recorded the following order:

(3.) AN application was made on behalf of the assessee before this court under Section 66(4) of the Act, and we have by our order of date dismissed that application.