Referable question on unaccounted receipts and on-money must be examined by the High Court, not refused outright.

A question concerning unaccounted receipts, on-money, and the Assessing Officer's burden was held to be a referable question requiring High Court examination. The Supreme Court declined to express any view on the merits, but found that the Tribunal's order raised an issue that should have been referred for consideration. The refusal to call for a reference was therefore set aside in part, and the specified question was directed to be referred to the High Court.

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Issues: Whether the High Court was justified in declining to call for a reference on the question relating to unaccounted receipts, on-money, and the Assessing Officer's onus.

Analysis: The question arising from the Tribunal's order required consideration by the High Court. The Court declined to express any opinion on the merits, but found that the issue raised a referable question that ought to be examined by the High Court.

Conclusion: The order refusing reference was set aside insofar as question No. 2 was concerned, and the question was directed to be referred to the High Court for its consideration.

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