Suhas Chandra Sen, J. - (1.) The Tribunal has referred the following questions of law under Section 256(2) of the Income-tax Act, 1961 ("the Act"). "1. Whether, on the facts and in the circumstances of the case, the Tribunal relied on irrelevant materials and ignored relevant evidence in holding that the sum of Rs. 1,68,885 is not the income of the assessee from undisclosed sources for the assessment year 1968-69 and whether such finding is otherwise unreasonable and/or perverse ? Whether, on the facts and in the circumstances of the case, the Tribunal relied on irrelevant materials and ignored relevant evidence in holding that the sum of Rs. 1,04,085 is not the income of the assessee from undisclosed sources for the assessment year 1969-70, and whether such finding is otherwise unreasonable and/or perverse ?"
(2.) The assessment years involved are 1968-69 and 1969-70. The facts found by the Tribunal are as under : "The respondent in this case is a firm/ and has been assessed in the status of an unregistered firm. The assessment years in issue are 1968-69 and 1969-70 for which the relevant accounting periods ended on March 31, 1968, and March 31, 1969, respectively. For the assessment year 1968-69, the assessee, Shyam Sunder and Co., was assessed as an unregistered firm on a total income of Rs. 3,00,104 which included a sum of Rs. 1,96,612 representing cash credits in the names of the following 12 parties : JUDGEMENT_187_ITR181_1990Html1.htm
(3.) The Income-tax Officer treated as the assessee's income from other sources a sum of Rs. 27,789 representing the cash credits in respect of four parties appearing at serial Nos. 1 to 4 above on the ground that the confirmation certificates were not filed.;