https://www.taxtmi.com/caselaws?id=14619 A reference was held maintainable on the legal question whether investments made in the names of the assessee's major sons could be treated as the assessee's unexplained investments under section 69 of the Income-tax Act, because that issue involved the legal assessability of such investments and not merely facts. The proposed reference concerning addition for purchase of a residential house on the basis of the District Valuation Officer's valuation was declined, because it turned only on factual appreciation of valuation material and raised no independent question of law. The result was that reference was directed only on the first issue. en-us Wed, 21 Jun 2000 00:00:00 +0530 Fri, 17 Jul 2009 15:57:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14619 A reference was held maintainable on the legal question whether investments made in the names of the assessee's major sons could be treated as the assessee's unexplained investments under section 69 of the Income-tax Act, because that issue involved the legal assessability of such investments and not merely facts. The proposed reference concerning addition for purchase of a residential house on the basis of the District Valuation Officer's valuation was declined, because it turned only on factual appreciation of valuation material and raised no independent question of law. The result was that reference was directed only on the first issue. Case-Laws Income Tax Wed, 21 Jun 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14619