1985 (3) TMI 31

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....have been proposed in this reference application under section 256(2). We have examined the questions, heard the learned counsel and also examined the order of the Tribunal rejecting the petition under section 256(1) as well as the appellate order out of which the questions of law are stated to have arisen. We are of the view that question No. 1 is a question of fact. As far as question No. 2 i....

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....hat some of these persons were different from those shown in the books of the assessee and hence this was a question on which the Income-tax Officer need not have examined the witnesses and he could have held that the cash credits were explained without examining the evidence. We are of the view that when an explanation is offered by the assessee regarding the cash credits appearing in his books, ....