1999 (7) TMI 23

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....tion 256(2) of the Income-tax Act, 1961, for requiring the Income-tax Appellate Tribunal to refer the following questions stated to be questions of law for the opinion of this court : "(i) Whether, on the facts and in the circumstances of the case and in law, the Income-tax Appellate Tribunal was justified in holding that the addition in respect of unexplained deposits appearing in the books of....

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....g recorded by the Assessing Officer and the learned Commissioner of Income-tax (Appeals) regarding the unproved credit worthiness and the genuineness of the transactions, the view taken by the Income-tax Appellate Tribunal, for allowing relief to the assessee was not inconsistent with and contrary to material on record against the assessee's claim in the matter ?" It emerges that the assessee i....