2002 (1) TMI 38

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....DDY J.-The Tribunal has referred the following question of law along with the statement of the case, under section 256(2) of the Income-tax Act, 1961, for the opinion of this court: "(i) Whether, on the facts and in the circumstances of the case, the Tribunal was right in rejecting the explanation of the assessee that the amount of Rs. 75,000 had come out of the income of the firm, Madhu Sweets....

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....he total income of the assessee. In the appeal preferred by the Department to the Tribunal, the Tribunal found that the assessee failed to discharge the burden placed on him to trace the unexplained amount to the firm. On an application by the assessee, the Tribunal referred the above question for the opinion of this court. Learned counsel for the assessee cited the decision in Parimisetti Seet....