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1972 (6) TMI 16 - BOMBAY HIGH COURT
Amount of ₹ 2,77,500 which the Income-tax Officer added back as the income of the assessee from undisclosed sources - assessee's case was that these are genuine transactions of borrowings on hundies from various parties. The Income-tax Officer has himself said that "complete details have been furnished by the assessee in respect of loans from these bankers" - assessee explained the sources for the hundi loans which was taken from people who were assessed to income-tax by crossed cheques. These lenders also confirmed the loans - Tribunal's decisions to reverse the Income-tax Officer's finding that the loans were assessees income from undisclosed sources does not gives rise to a question of law - Tribunal's finding was arrived at on the basis of association of the evidence. This is a question of fact