Reference of tax law questions on alleged receipt, sworn statement evidence, and section 2(47)(v) directed for Tribunal report

The High Court considered whether three questions were fit for reference: the alleged receipt of Rs. 10 lakhs, reliance on a sworn statement without cross-examination, and the applicability of section 2(47)(v) of the Income-tax Act, 1961. It directed the Income-tax Appellate Tribunal to draw up a statement of case and refer the three formulated questions to the Court within three months.

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Issues: Whether the Tribunal's findings on the alleged receipt of Rs. 10 lakhs, the use of the sworn statement without cross-examination, and the applicability of section 2(47)(v) of the Income-tax Act, 1961 raised questions of law fit for reference.

Outcome: The Court directed the Income-tax Appellate Tribunal to draw up a statement of case and refer the three formulated questions to the Court within three months.

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