TMI Blog1997 (4) TMI 48X X X X Extracts X X X X X X X X Extracts X X X X ..... ance of the assessee and the following questions of law have been referred by the Tribunal for answer of this court, which read as under : "(1) Whether, in the facts and under the circumstances of the case, the Appellate Tribunal was justified in appreciating the evidentiary value of the affidavit of Shri Uma Shankar and rejecting the same without examining the deponent thereof? (2) Whether, o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee's possession. The assessee explained that the said ornaments belonged to Shri Uma Shankar, one of the partners of the assessee-firm, who was carrying on his individual and separate business of money-lending for the last 10 years under a money-lender's licence issued to him by the State Government under the M. P. Professional Tax Act. In this behalf, the assessee relied upon, viz., th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al and it was urged that the affidavit of Shri Uma Shankar has been wrongly rejected without cross-examining him. Reliance was placed in that behalf on the decision of the Supreme Court in the case of Mehta Parikh and Co. v. CIT [1956] 30 ITR 181. The Tribunal, after going through the contents of the affidavit and the statement recorded on oath, held that it does not inspire confidence. The Tribun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th of Shri Uma Shankar and subsequent affidavit filed by him and assessed the liability of the assessee aforesaid and made the addition in his income. We have also gone through the records and we find that the affidavit of Uma Shankar filed by the assessee appears to be nothing but an afterthought and just to cover up the undisclosed income. The authorities below after considering the affidavit an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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