Akhilesh NaraIn Singh Vs. Commissioner of Income-tax - Court Judgment

SooperKanoon Citationsooperkanoon.com/481641
SubjectDirect Taxation
CourtAllahabad High Court
Decided OnAug-02-1995
Case NumberIncome-tax Application No. 69 of 1994
JudgeB.M. Lal and ;M.C. Agarwal, JJ.
Reported in[1995]216ITR711(All)
ActsIncome Tax Act, 1961 - Sections 256
AppellantAkhilesh NaraIn Singh
RespondentCommissioner of Income-tax
Appellant AdvocateRajesh Kumar, Adv.
Respondent AdvocateRakesh Ranjan Agrawal, Adv.
Excerpt:
- 1. heard sri rajesh kumar, learned counsel for the assessee-applicant and sri rakesh ranjan agrawal representing the opposite party.2. this is an application under section 256(2) of the income-tax act, 1961.3. having heard learned counsel for the respective parties and perusing the application, in the opinion of this court, the following question of law does arise out of the order passed by the tribunal :'whether there was any material before the income-tax appellate tribunal to hold that construction of shops in question was completed in the accounting year, relevant to the assessment year 1986-87 and, consequently, the unexplained investment of rupees one lakh was taxable in that year ?'4. the tribunal is, accordingly, directed to draw up a statement of the case and refer the aforesaid question of law to this court.
Judgment:

1. Heard Sri Rajesh Kumar, learned counsel for the assessee-applicant and Sri Rakesh Ranjan Agrawal representing the opposite party.

2. This is an application under Section 256(2) of the Income-tax Act, 1961.

3. Having heard learned counsel for the respective parties and perusing the application, in the opinion of this court, the following question of law does arise out of the order passed by the Tribunal :

'Whether there was any material before the Income-tax Appellate Tribunal to hold that construction of shops in question was completed in the accounting year, relevant to the assessment year 1986-87 and, consequently, the unexplained investment of rupees one lakh was taxable in that year ?'

4. The Tribunal is, accordingly, directed to draw up a statement of the case and refer the aforesaid question of law to this court.