1976 (10) TMI 11

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..... sessed the income of the assessee at Rs. 99,494. The assessee's appeal to the Appellate Assistant Commissioner was dismissed. The Income-tax Appellate Tribunal, however, set aside the order of assessment and remanded the matter back to the Income-tax Officer to estimate the income bearing in mind the value of the assets and liabilities at the commencement of the previous year and their value at th .....

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..... ircumstances of the case, the assessee could be given the benefits of intangible additions made in the earlier year to explain the addition of Rs. 54,075 made as unexplained investments ? " It is not necessary for us to enter into a detailed discussion of the questions raised in view of the fact that the addition of Rs. 54,075 made by the Income-tax Officer was from a new source and this he was .....

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