- (1.) These are the Tax Cases , wherein the question involved is only one, which is as under : "Whether, on the facts and circumstances of the case, the addition of Rs.23,59,461/ made up to the Assessment Year 197172 as extra income of the appellant was available with the appellant for purposes of taxation under the Wealth Tax Act"?
(2.) The petitioner's application for reference of such question submitted before the Tribunal under subsection(1) of Section 256 of the Income Tax Act, 1961 was rejected by the Tribunal vide orders dated 11 th March, 1994, pertaining to the assessment years 198586 to 198889.
(3.) The facts of these matters are that the Income Tax Officer while assessing the petitioner's income found that the total surplus available with the petitioner by way of income being Rs.21,15,164/ and the total wealth disclosed by the petitioner being Rs.97,25,000/, the increase in the wealth is to the tune of Rs.76,09,836/ The said income of Rs.76,09,836/ was taken to be income from undisclosed source. In view of the above reasonings, the total available surplus available with the petitioner during the assessment year 195354 to 197677 was declared to be Rs.21,15,164/ based on the assessed income of the petitioner for all the above three years.;