- (1.) BY this application filed under Sec. 256(2) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act'), the assessee -petitioner prayed that the Tribunal be directed to refer the following questions for the opinion of this court : "1. Whether the order of the ITAT regarding the correctness of books of account is an order made without due consideration of the evidence and relevant material on record ? 2. Whether the ITAT was wrong in passing an order about the books of account though there being no material or evidence in its favour and that whether the findings of the Tribunal are not contrary to the evidence ? 3 Whether the Tribunal's finding about the gold ornaments is not contrary to the evidence and, therefore, is perverse ? 4. Whether there is any nexus between the conclusion of the Tribunal and the primary facts placed by the applicant but not looked into by the Tribunal -
(2.) NONE appeared for the applicant. Mr. Singhi submits that Mr. Paras Kuhad has said that he has no instructions and he does not want to give appearance on behalf of the applicant.
(3.) THE issue involved in the aforesaid questions pertains to the year 1983 -84. There was a search and seizure in a group of cases headed by Shanti Lal Jain -the petitioner. During search, Rs. 1,90,738 were found, out of which Rs. 1,80,000 were seized. Silver bars weighing 98.393 kg. were also found and seized from the residential premises and bank lockers of the assessee. Gold ornaments weighing 2,182 grams were also found. It was claimed that they belong to different members of the family. Considering the material on record, the books of account were rejected. Various additions were made on the basis of material found.;