COMMISSIONER OF INCOME TAX Vs. JAGABANDHU ROUL

JUDGEMENT

(1.) ON the application of the Revenue made under Section 256(2) of the I.T. Act of 1961, this court directed the Cuttack Bench of the Income-tax Appellate Tribunal to state a case and refer the following two questions for the opinion of the court :

(2.) THE assessee is a partnership firm engaged in the trade of tobacco and tobacco products. THE relevant assessment years are 1971-72 and 1972-73. THE assessee returned incomes of Rs. 12,736 and Rs. 9,925 respectively for the two years. THE ITO rejected the return and assessed income of Rs. 50,810 and Rs. 38,790, respectively, for the years in question. THE Tribunal, in second appeal, determined income of Rs. 35,420 and Rs. 26,520, respectively. THEse included sums of Rs. 12,000 and Rs. 5,000, respectively, as income from undisclosed sources.