1988 (7) TMI 44

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....This is an application under section 256(2) of the Income-tax Act 1961, hereinafter referred to as "the Act". The material facts giving rise to this application briefly are as follows In the course of the assessment proceedings for the year 1978-79, the assessee claimed that a sum of Rs. 40,000 deposited by him with Dena Bank was out of a sum of Rs. 50,000 which he had brought at the time when ....

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....e-tax Officer to the income of the assessee. Aggrieved by the order passed by the Appellate Assistant Commissioner, the Revenue preferred an appeal before the Tribunal. The Tribunal dismissed the appeal filed by the Revenue. Aggrieved by the order passed by the Tribunal, the Revenue submitted an application under section 256(1) of the Act for making a reference to this court. That application was ....

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....ought to be referred was as follows : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the conditions laid down in the circular issued by the Ministry of Finance (Department of Revenue and Insurance) have been fully satisfied by the assessee, when the declaration filed by the assessee before the Income-tax Officer categorically state....