The entry in the account books in the name of the assessees father was explained as being in accordance with Marwari Custom.
72,523 credited in the name of Ganesh Das Hanuman Prasad, father of the assessee.
The High Court answered the question Whether, on the above facts and circumstances of this case, there was any material before before the Tribunal to hold that the assessee purchased gold in the year 1918 which he sold in the year under companysideration and the sum of Rs.
72,523 represents the sale proceeds the sale proceeds of such gold ?
In the pass book of the assessee, there was a withdrawal of Rs.
The appeal is directed against the judgment and order of the High Court of Calcutta dated December 14, 1955, in an income tax reference under section 66 1 of the Indian Income tax Act.
The assessee was called upon to explain the nature and source of this amount, and he stated that it represented the sale proceeds of gold purchased by him in 1918 in Bombay, that the gold was kept in the family chest, and that it was sold in the account year.
1,00,000 after a few days, and the assessee explained that the amount was given away to Messrs. Birla Brothers for purchasing a companyliery.
in the negative.
The Income tax Officer did number accept this explanation, and treated this amount as income of the assessee from some undisclosed source.
For the assessment year 1945 46 companyresponding to the financial year 1944 45 the Income tax Officer found sum of Rs.
The order of the Income tax Officer was companyfirmed by the Appellate Assistant Commissioner.
The facts of the case are simple.
Hidayatullah, J. This appeal is by Gouri Prasad Bagaria and others in respect of the assessment of their father, Hanuman Prasad Bagaria, who died after the grant of special leave to him by this companyrt.
