1997 (8) TMI 27

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....lication under section 256(2) of the 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 Asses....

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....ssessing authority ; (ii) the Tribunal has erred 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....