COMMISSIONER OF INCOME TAX Vs. GHEWARCHAND KAMALKUMAR

JUDGEMENT

(1.) THIS is an application by the revenue under Section 256(2) of the Income-tax Act, 1961, for a direction to the Appellate Tribunal to state a case and refer the following question said to be of law for determination of this court:

(2.) THE assessee is a partnership firm deriving income from commission agency and wholesale business in groceries. While examining its books of account for the assessment year 1964-65 (corresponding to the previous year ending on April 19, 1964) the Income-tax Officer came across cash credits to the tune of Rs. 1,20,000 as per the following particulars: