1990 (8) TMI 9

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....itions at the instance of the assessee under section 256(2) of the Income-tax Act, 1961, a direction is sought to the Tribunal to refer the following four questions of law: " (1) Whether, on the facts and in the circumstances of the case, there were materials before the Tribunal to hold that the sum of Rs. 3,42,025 represented income of the firm from other sources for the assessment year 1965-66 ....

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.... put forward by the assessee and also the improbability of the assessee having been able to command funds as claimed. Though learned counsel for the assessee attempted to make out that questions Nos. 1 to 3 sought to be referred are mixed questions of fact and law, we find that they are purely questions of fact and the conclusion arrived at by the Tribunal is based upon an exhaustive consideration....

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....commencing on and after April 1, 1971, and not for the earlier assessment years with which we are concerned in these tax case petitions. Under these circumstances, no referable question of law can be said to arise out of the order of the Tribunal. These tax case petitions are, therefore, dismissed. No costs. T. C. P. No. 210 of 1990 : In this tax case petition at the instance of the assessee und....

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.... materials, found as a fact that the Hindu undivided family did not possess cash of Rs. 14.35 lakhs or even any part thereof on September 24, 1961, and that would be essentially a question of fact. The argument of learned counsel for the petitioner that the first question to be raised is a mixed question of law and fact has no substance for, the Tribunal had dealt with the entire available evidenc....