Referable question of law not made out where Tribunal's findings were supported by purchases, stock entries, and receipts.

No referable question of law arose from the Tribunal's order where the assessee's purchases, stock entries, and chungi receipts had been examined and the adverse findings were supported by the factual record. The assessee did not substantiate its objections, and the Tribunal's conclusion could not be treated as perverse. The application under section 256(2) was therefore not maintainable.

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Issues: Whether any question of law arose from the Tribunal's order so as to warrant a reference under section 256(2) of the Income-tax Act, 1961.

Analysis: The material on record showed that the assessee's purchases, stock entries, and chungi receipts had been examined by the income-tax authorities and the Tribunal. The assessee's objections to the receipts and the adverse findings were not substantiated, and the additions were supported by the factual record. On that basis, the Tribunal's conclusion could not be characterised as perverse or as giving rise to a referable question of law.

Conclusion: No question of law arose from the Tribunal's order, and the application under section 256(2) was not maintainable.

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