1991 (2) TMI 59

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....y this application under section 256(2) of the Income-tax Act, 1961, the petitioner seeks to have the following seven questions referred to this court : " 1. Whether the Tribunal was legally correct in upholding the addition to the income of the assessee-firm, Rs. 1,16,500, in the absence of any finding or evidence to the effect that the cigarettes of the 'Sales Promotion Free Scheme' had actua....

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....Mr. P. C. Jain, partner of the assessee-firm, stating that the statement 'failed to inspire the least degree of confidence' even though on the basis of this very statement, they have accepted that the cigarettes under consideration have been entered in the stock register to uphold the addition of Rs. 1,16,500 ? 5. Whether, on the facts and in the circumstances of the case, the Tribunal is legal....