RAMSING AND COMPANY Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) BY this application under Section 256(2) of the I.T. Act, 1961 (hereinafter referred to as "the Act"), the applicant has prayed that the Income-tax Appellate Tribunal he directed to state a case and refer questions of law arising out of 'the order of the Tribunal dated April 16, 1980, passed in I.T.A. No. 584/Ind./79.

(2.) THE facts giving rise to this application briefly stated are as follows : While framing the assessment of the assessee for the assessment: year 1975-76, the relevant accounting year being the financial year 1974-75, the ITO noticed the following cash credits in the accounts of the assessee; <FRM>JUDGEMENT_166_ITR146_1984Html1.htm</FRM>

(3.) AS a result of the discussion aforesaid the application is dismissed. In the circumstances, the parties shall bear their own costs of this application.