1997 (8) TMI 27

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....Income-tax Act, 1961, has prayed that the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur, may be directed to refer the following questions of law for the opinion of this court : "(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is justified in : (i) deleting the addition of Rs. 24,675 made by the Assessing Officer on account of unexplained go....

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.... in law in accepting the claim of the assessee that he was having semi-finished stock of Rs. 1,13,845 on March 31, 1990, which was processed during the two days and the finished stock of Rs. 79,896 was sold on April 2, 1990, and, therefore, the addition on account of unexplained stock was unjustified ; (iii) the Tribunal has erred in law in observing that in the case of cash credit of Rs. 14,000 i....