TMI Blog1981 (9) TMI 43X X X X Extracts X X X X X X X X Extracts X X X X ..... r to question No. (1) is in the affirmative, whether the sum of Rs. 55,293 could be held as the 'undisclosed income' of the assessee himself ? " Since the assessee died during the proceedings, his widow, Ishwaribai, has been brought on record with the permission of the court. The assessee migrated to India from Pakistan in 1947 and was doing money-lending business. The assessee's first wife died on 19th February, 1950. Thereafter on 26th July, 1950, he married his second wife, Ishwaribai, who has now been brought on record, on his death, as the heir and legal representative. We are concerned in this case with assessment year 1952-53, the previous year ending on 23rd August, 1951. During the relevant assessment year there was in the bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... said observations, the ITO, strangely enough, came to the conclusion that the assessee's explanation that this amount was sale proceeds of the ornaments received by him at the time of his marriage cannot be accepted. In an appeal to the AAC against the said order, the assessee, apart from the evidence already produced, gave further particulars of the said amount of Rs. 55,293 by showing that on 17th March, 1951, an amount of Rs. 54,000 and on 26th March, 1951, a further sum of Rs. 1,292.13 was received from M/s. Ambalal Amichand towards the price of gold which was melted at the Bombay Bullion Exchange factory and sold to him. The said statement gave details of the melting of the gold ornaments and other particulars. The said statement wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this single ornament. This version is too unreal to be accepted. If old ornaments had been given by the parents, there must have been some sentimental value attached to them as heirlooms which the young wife would cherish fondly to pass on to her own daughters in time. If the lady wanted ornaments of the later designs, she could have, in her situation, got all of them for just the asking, without any need to sell the old jewels. Actually, it is admitted that no new ornaments had been also purchased following the sale. The version put forward by the assessee is totally improbable and unbelievable." The assessee thereafter made an application to the Tribunal to refer the said above-mentioned questions to the court for its reference. The Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... judicially, i. e., to consider all the evidence in favour of and against the assessee. An order recorded on a view of only a part of the evidence and ignoring the remaining evidence cannot be regarded as conclusively determining the questions of fact raised before the Tribunal. " As we have pointed out above, the assessee had in this case produced before the ITO cogent evidence consisting of vouchers and the list of the persons who had presented gifts to the wife of the assessee at the time of their marriage. The ITO had not examined either the assessee or his wife or any of the persons mentioned in the list to find out the truth or otherwise of the assessee's content on. Nor did he in his order consider the said evidence. However, acting ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wn in the assessee's books of account to the credit of his wife, Ishwaribai, belonged to his said wife and did not belong to the assessee so as to be included in his income. In the result, we answer the questions as under : Question No. (1) : There was evidence to hold that the credit of Rs. 55,293 in the account of the assessee's wife did represent the sale proceeds of the wife's ornaments. Question No. (2): In view of our answer to question No. (1) as above, question No. (2) is answered in the negative and in favour of the assessee. The Commissioner to pay the costs of the reference, together with the costs of appeal to the Supreme Court, as they are to be added to the costs of this reference as directed by the Supreme Court in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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