https://www.taxtmi.com/caselaws?id=28923 In a reference under Section 256(2) concerning an assessment under Section 144, the High Court examined whether there was material to support the finding that 70-75% of the value of goods pledged with banks was covered by bank loans, affecting an addition for income from undisclosed sources. The Court treated the existence and sufficiency of evidence supporting that factual conclusion as a question of law and directed the Tribunal to state the case and refer the specified question for its opinion. The applications were allowed, and the parties were directed to bear their own costs. en-us Fri, 21 Nov 1980 00:00:00 +0530 Mon, 08 Mar 2010 16:45:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28923 In a reference under Section 256(2) concerning an assessment under Section 144, the High Court examined whether there was material to support the finding that 70-75% of the value of goods pledged with banks was covered by bank loans, affecting an addition for income from undisclosed sources. The Court treated the existence and sufficiency of evidence supporting that factual conclusion as a question of law and directed the Tribunal to state the case and refer the specified question for its opinion. The applications were allowed, and the parties were directed to bear their own costs. Case-Laws Income Tax Fri, 21 Nov 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28923