1964 (4) TMI 22 - SUPREME COURT

Whether there was evidence to come to the conclusion that the computation of the income of the assessee at ₹ 1,80,000 and remittance at ₹ 30,000 in the assessment for the year 1947-48 was right?

Whether there was evidence for the conclusion that the sum of ₹ 1,07,461 was remitted into India and was assessable to tax in the assessment for the year 1948-49 ?

Held that:- With great repect, the High Court did not appreciate the findings of the Tribunal, recorded in the supplementary statement. The Tribunal had accepted the earlier findings of the court, recorded in the order dated July 31, 1958, but in spite of discarding the theory of benami on the material before it, it came to the conclusion that no other conclusion except that 87,500 dollars was the income of the assessee was possible.

Once it is held, as we do hold, that there was material for the finding of the Tribunal that 87,500 dollars represented the income of the assessee, no other issue survives.

In the result, the appeals are allowed and the question referred to the High Court answered in the affirmative. Appeal allowed.