TMI Blog1989 (9) TMI 80X X X X Extracts X X X X X X X X Extracts X X X X ..... material facts giving rise to this reference, briefly, are as follows. While framing the assessment of the assessee for the assessment year in question, the Income-tax Officer made an addition of Rs. 59,000 as income from undisclosed sources. The appeal preferred by the assessee in that behalf before the Appellate Assistant Commissioner was rejected. On further appeal before the Tribunal, the Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es ? (2) Whether, on the facts and circumstances of the case, the Tribunal was justified in holding that the benefit of peak credit theory cannot be given to the assessee when, in fact, the addition has been made in the total income of the assessee ?" Having heard learned counsel for the parties, we have come to the conclusion that so far as question No. 1 is concerned, the finding of the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X
|