NARAYAN BIJOY KUMAR Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) A statement of the case has been submitted by the Income-tax Appellate Tribunal, 'A' Bench, Patna, under Section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as the "Act"), and the following question of law has been referred for the opinion of this court :

(2.) THE assessee is a firm. THE assessment year in question is 1971-72 corres ponding to the accounting year ended on October 9, 1970. In the course of the examination of the books of account of the assessee, the Income-tax Officer noticed that the assessee made cash payments of over Rs. 2,500 in three cases aggregating Rs. 10,053.90 for which no satisfactory explanation could be produced. He, therefore, added this amount as income of the assessee under Section 40A(3) of the Act. A copy of the order of the Income-tax Officer is made annexure-A and forms part of the statement of the case.