1999 (7) TMI 23

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..... ribunal to refer the following questions stated to be questions of law for the opinion of this court : "(i) Whether, on the facts and in the circumstances of the case and in law, the Income-tax Appellate Tribunal was justified in holding that the addition in respect of unexplained deposits appearing in the books of account of the assessee could not be made in the hands of the assessee company bu .....

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..... als) regarding the unproved credit worthiness and the genuineness of the transactions, the view taken by the Income-tax Appellate Tribunal, for allowing relief to the assessee was not inconsistent with and contrary to material on record against the assessee's claim in the matter ?" It emerges that the assessee introduced unsecured loan of Rs. 5,12,417.90 in the names of its directors and the wif .....

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