1982 (1) TMI 17

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....ed by S. P. GOYAL J.-The following three questions have been referred to this court by the Tribunal under s. 256(1) of the I.T. Act, 1961 (for short called " the Act ") : " (1) Whether there was any material before the Tribunal to confirm the addition of Rs. 6,000 which had been sustained by the Appellate Assistant Commissioner out of the cash credit of Rs. 12,000 in the account of Hem Raj a....

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....f the Revenue. As regards question No. (1), the claim of the assessee was that the amount of Rs. 12,000 entered in the name of Hans Raj in the account books was advanced by way of interest-free loan by the latter. The ITO rejected this plea and added the whole of this amount as income from undisclosed sources while competing the taxable income of the assessee. On appeal, the addition was reduce....

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....there was no material to sustain the addition of Rs. 6,000 ordered by the AAC. The question is accordingly answered in the affirmative, against the assessee. The amount of Rs. 28,231, the subject-matter of question No. (3), was disallowed because of the violation of the provisions of s. 40A(3) of the Act as it had not been paid through crossed cheque drawn on a bank or by crossed bank draft. Th....