HANSRAJ AGGARWAL Vs. ADDITIONAL COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THESE two reference applications under Section 256(1) of the I.T. Act, 1961, raise a common question and, therefore, they are disposed of by this common judgment.

(2.) IN the first mentioned case, i.e., Misc. Civil Case No. 77 of 1973, the INcome-tax Appellate Tribunal, INdore Bench, INdore, at the instance of the assessee, has referred to the court for its opinion certain questions of law, said to arise from its consolidated order in INcome-tax Appeals Nos. 819 and 820 of 1971-72, dated June 15, 1972, pertaining to the assessment years 1966-67 and 1967-68, namely :

(3.) ON appeal, the A AC of Income-tax, 'A' Range, Indore, affirmed the assessment for the assessment year 1966-67 at Rs. 17,250, but reduced the assessment for the year 1967-68, from Rs. 33,817 to Rs. 19,277. He substantially accepted the contention of the assessee that further investment in the property was of about Rs. 4,000 and considered that the addition warranted for unexplained construction, should be fixed at Rs. 6,000, i.e. income for the assessment year 1967-68 was reduced by Rs. 14,540.