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1961 (1) TMI 12 - SUPREME COURTWhether, on the above facts and circumstances of this case, there was any material before the Tribunal to hold that the assessee purchased gold in the year 1918 which he sold in the year under consideration and the sum of ₹ 72,523 represents the sale proceeds of such gold ? Held that:- This was a perfectly simple case, in which a question of law hardly arose. The Tribunal had believed the assessee's word in view of his conduct and past history, such as they had been able to see. Where the assessee's statement is believed, there is obviously material on which the finding is based ; and to seek for other material is tantamount to saying that a statement made by an assessee is not material on which a finding can be given. In our opinion, the Tribunal having believed the assessee's statement, there was an end of the matter in so far as that fact was concerned, and if the finding was based upon a statement which was good material on which it could be based, no question of law really arose. However, treating the question as one of law, the answer is irresistible that there was material, viz., the statement of the assessee believed by the Tribunal, on which the finding could be given. the answer given by the High Court must be set aside, and the question answered in the affirmative. Appeal allowed.
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