COMMISSIONER OF INCOME TAX Vs. RAM AGARWAL HUF

JUDGEMENT

(1.) Heard learned counsel for the applicant, and learned counsel for the respondent.

(2.) The present application under Section 256(2) of the Income-tax Act, 1961, is by the Revenue seeking reference of the following questions of law :

(3.) It is not necessary to give the preceding facts for the purposes of disposing of this application, but the facts as existed before the Income-tax Tribunal. In the present case, after the remand of the case by the Tribunal, fresh assessment was made on March 30, 1988, determining the total income of the assessee at Rs. 4,60,560 including unexplained investment of Rs. 4,15,000. The first appellate authority dismissed the said appeal against which a second appeal was preferred before the Income-tax Tribunal by the assessee. The appeal of the assessee was dismissed by the Tribunal on July 9, 1990.