TMI Blog1976 (3) TMI 39X X X X Extracts X X X X X X X X Extracts X X X X ..... a direction to the Income-tax Appellate Tribunal, Cuttack Bench, to state a case and refer the following question said to be of law arising out of the appellate decision of the Tribunal for the opinion of the court : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the declaration filed by the minor daughter of an erstwhile partner of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nfirmed the addition of the cash credits but some relief has been granted in respect of the income from the business. Even after our order, the difference between the income returned and the income assessed would be such as to attract the Explanation to section 271(1)(c). In considering whether the assessee has discharged the onus cast by the Explanation, we have to consider the case of the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the income of the assessee. Apart from the allegation that the creditor was an erstwhile partner of the assessee and that his daughter had no sources of income, there is no direct evidence to show that the amount added back was the income of the assessee. The fact that it was deemed to be the income of the assessee by reason of section 68 is irrelevant for the purpose of imposition of penalty as h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed with Rs. 10,000 on January 16, 1963, and with two amounts of Rs. 5,000 on 30th January, 1963. The Tribunal has as a fact found that the declaration furnished supporting material for the stand that the amount had come from the source of the declarant. It is true that at the assessment stage this explanation has not been accepted and there is force in the contention of learned standing counsel th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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