- (1.) HEARD learned counsel for the parties.
(2.) CONSIDERING the submissions, the Tribunal is directed to refer the following questions for the opinion of this Court : "1. Whether in the facts and circumstances of the case, the Tribunal was justified in law in deleting the additions of Rs. 5,85,695 on account of unexplained cash credit reflected in the books of account and holding that Chapters XIV and XIV - B are mutually exclusive without appreciating the provisions of s. 158BB(2) of the Act ? 2. Whether in the facts and circumstances of the case, the Tribunal was justified in law in deleting the additions of Rs. 16,74,123 on account of enhanced gross profit and Rs. 32,66,487 on account of additional turnover holding that the entries recorded in the books of account cannot be put to scrutiny under Chapter XIV -B, despite of the facts that the irregularities discrepancies were found by AO in the books of account and AO was constrained to make assessment in accordance with s. 145 of the Act ? 3. Whether in the facts and circumstances of the case, the Tribunal was correct in law in deleting the additions of Rs. 72,78,632 on account of unexplained investment in Marcopolo showroom - The Tribunal is further directed to refer the aforesaid question within three weeks from the date of receipt of certified copy of this order.
(3.) THE reference application under s. 256(2) stands disposed of.;