COMMISSIONER OF INCOME-TAX Vs. MAHENDRA KUMAR BANSAL

JUDGEMENT

(1.) These are three applications made by the Revenue under Section 256(2) of the Income-tax Act, 1961, requiring us to direct the Income-tax Appellate Tribunal to draw up a statement of the case in all the matters and refer the following common questions to this court for its opinion :

(2.) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is legally correct in holding that the order of the Income-tax Officer was not erroneous and prejudicial to the interests of the Revenue ?

(3.) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is legally correct in drawing a conclusion that the Commissioner of Income-tax has failed to establish nexus between the stock found at the time of search and the assessment under appeal ?"