TMI Blog1948 (3) TMI 35X X X X Extracts X X X X X X X X Extracts X X X X ..... e other the assessment of excess profits tax. The assessee is an undivided Hindu family, and the question which has been referred is whether there is any legal evidence to support the finding of the Tribunal that ₹ 49,300 was part of the assessee's income during the accounting year. The accounting period in question is from the 11th November, 1939, to the 30th of October, 1940. The assessee has business and property, the business including two rice mills, and a grain gola, trading in clarified butter and timber, and there is also a pawnbroking business. The Income-tax Officer held that a sum of ₹ 84,000 shown as cash credits in the personal account of thee business in the name of the family, actually represented, not a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... What we have to decide is merely whether there is any legal evidence to support the conclusion arrived at by the Income-tax authorities. Much of the argument before us has, perhaps inevitably, partaken largely of the nature of a challenge to the finding upon the merits. With the merits we are not, however, at all concerned. The question before us, if one may so put it, is was there case to go to the jury?―not whether the evidence was such as to justify the conclusion. No doubt the materials upon which Income-tax authorities acted constituted only circumstantial evidence. Nevertheless, that there was evidence cannot, I think, be doubted. I have referred to the fact that on a sales turnover of fifteen lakhs the net income shown w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on to suppose that anything was done behind the back of the assessee and the actual fact relied on was not really challenged by thee assessee. The objection substantially was that owing to other possible circumstances the inference sought t be made from that fact not justified. That fact, it was suggested, carried little weight with regard to the matter under consideration. In short, the objection made was not with regard to the correctness of that statement, but upon the weight which should be attached to it―a mere question of fact. Coupled with the extraordinary low profits shown were the facts that no accounts at all had been conveniently kept regarding this home chest, and no explanation was furnished of the real source of thes ..... X X X X Extracts X X X X X X X X Extracts X X X X
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