COMMISSIONER OF INCOME TAX Vs. SATYA RANJAN SEN

LAWS(CAL)-1989-3-50

HIGH COURT OF CALCUTTA

Decided on March 03,1989

COMMISSIONER OF INCOME-TAX Appellant

VERSUS

SATYA RANJAN SEN Respondents

JUDGEMENT

Suhas Chandra Sen, J. - (1.) The Tribunal has referred the following questions of law to this court:
(2.) Assessment year 1960-61 : "(1) Whether, on the facts and in the circumstances of the case, the Tribunal ignored relevant materials and relied on irrelevant materials in holding that the nature and source of the sum of Rs. 1,36,300 credited to the account of Smt. Laxmimoyee Sen has been satisfactorily explained by the assessee and whether acceptance by the Tribunal of the sale of ornaments to Imperial Bullion Co. was based on no evidence. (2) If the answer to question No. 1 is in the affirmative, then, whether, on the facts and in the circumstances of the case, the Tribunal was justified in deleting the addition of the sum of Rs. 1,36,300."
(3.) Assessment year 1961-62 : "Whether, on the facts and in the circumstances of the case, the Tribunal ignored relevant materials and relied on irrelevant materials in holding that the amount credited to the account of Smt. Laxmimoyee Sen represented interest on borrowed capital and should be allowed in computing the profits and gains of the assessee's business.";

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