https://www.taxtmi.com/caselaws?id=7488 Estimated past additions to income and their use as a source for later bank deposits were treated as a factual accounting exercise, not a legal question requiring reference under section 256(2) of the Income-tax Act, 1961. The Tribunal compared earlier extra profit additions with the deposits, allowed deductions for marriage and domestic expenses, and found sufficient funds remained available to explain the deposits. The High Court held that no legal error was shown in this method of factual appraisal, so no referable question of law arose and the reference applications were rejected. en-us Tue, 10 Dec 1968 00:00:00 +0530 Fri, 20 Feb 2009 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7488 Estimated past additions to income and their use as a source for later bank deposits were treated as a factual accounting exercise, not a legal question requiring reference under section 256(2) of the Income-tax Act, 1961. The Tribunal compared earlier extra profit additions with the deposits, allowed deductions for marriage and domestic expenses, and found sufficient funds remained available to explain the deposits. The High Court held that no legal error was shown in this method of factual appraisal, so no referable question of law arose and the reference applications were rejected. Case-Laws Income Tax Tue, 10 Dec 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7488