TMI Blog1994 (10) TMI 37X X X X Extracts X X X X X X X X Extracts X X X X ..... litres accounted for. There was thus an unaccounted sale of 68,848 litres. On this basis, the assessing authority reached the conclusion that there was undisclosed income to the extent of Rs. 7,50,124. The assessing authority also found income from undisclosed sources to the extent of Rs. 19,05,898 out of which he deducted an amount of Rs. 7,55,124 added as undisclosed business income and thus fixed the income from those sources at Rs. 11,50,774. The assessing authority completed the assessment accordingly. The Commissioner (Appeals) modified the order to the extent that he limited the addition from undisclosed sources to Rs. 8,21,233 out of which he deducted an amount of Rs. 1,10,000 as explained. He confirmed an addition of Rs. 7,50,124 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under a different head. The order of the Tribunal is based on materials and evidence on record and it could not for any reason be stated to be perverse or otherwise liable to be interfered with in reference under section 256(1) of the Income-tax Act. We decline to make reference of the question raised by the assessee in respect of this amount of Rs. 1,10,000. So far as the Departmental applications are concerned, we are satisfied that the following questions of law arise which they have raised in their reference applications as arising out of the order of the Tribunal, namely: " 1. Whether, on the facts and in the circumstances of the case, the Tribunal is right and had materials in considering and in holding income assessed under the he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o Rs. 8,21,233 in paragraph 12--is right and sustainable in law and fact ? (b) should not the Tribunal have fixed the investments and accretions, to wealth at Rs. 19,05,898 and determined the additions both under the heads 'Business' and 'Other sources' or the entire addition of Rs. 19,05,898 under 'Other sources'? 6. Whether, on the facts and in the circumstances of the case and considering the reasons and evidence on the basis of which the officer determined the profit margin of the liquor sold outside the books of account, the Tribunal had materials to interfere with the margin of business income ?" Questions Nos. 7 and 8 relate to deletion of Rs. 50,000 and Rs. 5,000 on which we do not find any reason to direct reference. Accord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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