BINODIRAM BALCHAND Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) "The Tribunal also took notice of the fact that loans were taken by the directors of the debtor company on their personal guarantee and, therefore, it was difficult to accept that in these transactions there was relationship of creditor and debtor between the assessee and the debtor company as is found in money lending transactions." In the order of the Tribunal (annexure D), it is recorded as under:

(2.) IT is thus clear that the aforesaid observation contained in the statement of the case does not shake hands with the position recorded in the order of the Tribunal. This goes to show that the statement of the case is not sufficient for consideration of the questions submitted to us.

(3.) WE are satisfied that in view of the aforesaid statement made in the case and the record contained in the order out of which the question is referred to us, and in view of the linkage of the case with the question contained in Miscellaneous Civil Case No. 304 of 1991, the statements of the cases are not sufficient to determine the questions as presented. We, therefore, invoke S. 258 of the Act and refer the cases back to the Tribunal for the purpose of making appropriate additions thereto or alterations therein so as to bring the statement of the case in conformity with the order passed by the Tribunal.