TMI Blog2001 (8) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... owing questions have been referred for the opinion of this court by the Income-tax Appellate Tribunal, Delhi Bench "A", Delhi (in short "the Tribunal"): "(1) Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the additional ground that the addition of Rs.5,11,000 as income from undisclosed sources is covered by intangible additions of earlier ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was disallowed. In appeal the stand of the assessee was that relevant details were not examined, which was accepted. The Income-tax Officer pursuant to the direction passed by the Appellate Assistant Commissioner (in short "the AAC") examined the matter in detail and held that the bona fides of the claims were not established. The same was assailed before the Appellate Assistant Commissioner again ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mand. It cannot be an abstract proposition in law that the intangible additions of the previous year are to be taken note of while considering the cash credit. On the facts of each case a specific plea and proof that there was any link between the intangible additions in the previous year and the cash credit has to be established, if that be a fact while tendering the explanation regarding the cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... can be given. The question whether a particular cash credit can be covered by the intangible addition is essentially one of fact. It is within the domain of taxing authorities to consider whether a particular cash credit, or unexplained expenditure or investment can reasonably be attributed to intangible additions, if materials are placed in that regard. No material was placed before the authorit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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