1995 (12) TMI 51

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.... to refer the following questions for the opinion of this court : " (1) Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in deleting the addition of Rs. 14,76,067 being unexplained investment in getting the drafts purchased through Shri Bhagwan Das, munim of the firm, ignoring the facts that the drafts to the tune of Rs. 3.2 lakhs were found credited i....

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....unim of the assessee-firm. Shri Bhagwan Das also purchased 14 drafts which stand credited in the books of the assessee. So far as the 14 drafts are concerned, there is no controversy, because they are duly credited in the books of the assessee. So far as the 28 drafts are concerned, Shri Bhagwan Das was examined and then he stated that those drafts had been purchased by him. These drafts are no....