TMI Blog1995 (11) TMI 92X X X X Extracts X X X X X X X X Extracts X X X X ..... red by A. R. TIWARI J.--The applicant has filed this application under section 256(2) of the Income-tax Act: 1961, seeking directions to the Tribunal to send the statement of the case and refer the question of law as proposed. The proposed questions of law are reproduced below : "1. Whether the Tribunal was correct in holding that the assessment made by the Income-tax Officer for the assessmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orwarded it to the then Inspecting Assistant Commissioner of Income-tax. The Inspecting Assistant Commissioner of Income-tax in his discretion available to him under section 144B of the Income-tax Act directed the Income-tax Officer to delete this addition. Thus, assessment was made by the Assessing Officer excluding this amount. Later, the Commissioner of Income-tax examined the record of the cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 144B of the Income-tax Act. The appeals filed for the assessment year 1978-79 were allowed by order dated November 16, 1989. The Department then filed an application under section 256(1) of the Income-tax Act for reference of the questions as noted above. The application was rejected. The Department has, therefore, filed this application under section 256(2) of the Income-tax Act. We ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... explain or establish the source of the income or the receipt of money and not the source of receipt of the high denomination currency notes. The fact remains that the cash balance of the assessee was sufficient to cover the value of high denomination notes. This was a finding of fact which is not perverse and as such it did not give rise to any question of law. In view of this, the Tribunal right ..... X X X X Extracts X X X X X X X X Extracts X X X X
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