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TMI Blog1961 (1) TMI 12X X X X Extracts X X X X X X X X Extracts X X X X ..... alcutta dated December 14, 1955, in an income-tax reference under section 66(1) of the Indian Income-tax Act. The High Court answered the question : " Whether, on the above facts and circumstances of this case, there was any material before the Tribunal to hold that the assessee purchased gold in the year 1918 which he sold in the year under consideration and the sum of Rs. 72,523 represents the sale proceeds of such gold ? " . in the negative. The facts of the case are simple. For the assessment year 1945-46 corresponding to the financial year 1944-45 the Income-tax Officer found a sum of Rs. 72,523 credited in the name of Ganesh Das Hanuman Prasad, father of the assessee. The assessee was called upon to explain the nature and source ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d exclude the sum of Rs. 72,523 from the assessment. " The Commissioner of Income-tax then applied for a reference, and the Income-tax Appellate Tribunal, Calcutta Bench, which had by then changed, referred the case on the above stated question. The High Court of Calcutta called for a supplementary statement of the case under section 66(4), and directed the Tribunal to draw up and to forward to the court a supplementary statement " as to the manner in which the Appellate Bench of the Tribunal examined the personal history of the appellant. " The High Court directed that the Bench which heard and disposed of the appeal should state : " (a) Whether the assessee was examined at all by the Appellate Bench of the Tribunal ; (b) if he was, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elieved, there is obviously material on which the finding is based ; and to seek for other material is tantamount to saying that a statement made by an assessee is not material on which a finding can be given. In our opinion, the Tribunal having believed the assessee's statement, there was an end of the matter in so far as that fact was concerned, and if the finding was based upon a statement which was good material on which it could be based, no question of law really arose. However, treating the question as one of law, the answer is irresistible that there was material, viz., the statement of the assessee believed by the Tribunal, on which the finding could be given. In our opinion, the answer given by the High Court must be set aside, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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