2007 (9) TMI 537

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....te Tribunal under the provisions of section 256(1) of the Income-tax Act for reference of certain questions to this court. Those questions were arising out of the order of the learned Tribunal, vide its order dated August 25, 1998, in relation to the block assessment years 1986-87 to 1996-97, following questions were sought for reference. "(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in law in altogether ignoring the circumstantial evidence and deleting the addition of Rs.2,51,056 made as undisclosed income for the assessment year 1991-92 on account of unexplained investment in gold ornaments etc.? (2) Whether, on the facts and in the circumstances of the case, the Inc....

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....y ? (7) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in law in deleting the addition of Rs. 87,000 made on account of unexplained credit and interest thereon, in spite of the fact that the creditor had not been proved by the assessee ?" Learned counsel for the Revenue urged that all the seven questions asked for reference involves a question of law thus the Tribunal ought to have referred those questions to the High Court for its answer. It was thus submitted that the High Court should call for reference of those seven questions by issuing appropriate order to the Income-tax Appellate Tribunal. The ground for seeking reference was also argued by stating that mere disclosur....

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....ribunal under section 256(1) of the Income-tax Act, however, in the case of Jethmal Boob also the learned Tribunal had refused to make any reference while deciding the similar issue. It was found that all the questions asked for reference are based on facts and finding recorded by the Tribunal were after considering material placed on record and also with proper appreciation of facts, therefore, no question can be referred based on finding of facts or needs re-appreciation of the facts already taken note of in appeal. It is not a case where the Tribunal had failed to consider the material available on record or passed an order without appreciating the documents. Thus, we are of the view that a question cannot be asked for reference of the H....