Law: Income Tax Act, 1922

Section: 66(2),33,4(1)(b)(iii)

Income-tax Act, 1922 -Sections 13, 66 -- Cash credits -Entry in the name of sons of assessee -Burden to prove satisfactorily the nature and source of entries -Whether on assessee -Held yes -- Reference to High Court -Question of law or fact -Income from undisclosed sources -Tribunal's finding that cash credits represented income from undisclosed sources -Finding based on evidence on record -Whether Tribunal's order gives rise to question of law -Held no -- Reference -Mixed question of law and fact -Question requiring recording of further evidence -Whether can be raised for the first time before the High Court -Held no -- JUDGMENT {The judgment of the court was delivered by MUHAMMAD AKRAM J.}---This is an application made to this Court under Section 66(2) of the Income-tax Act (XI of 1922). 2. The petitioner -assessee is Mian Fazal Din carrying on his business in the name and style of Messrs. Muhammad din and Sons, Lahore at its Sole Proprietor. He is a dealer in iron and is also running a re-rolling mill. He is also an agent for the Associated Cement Company. He filed his income-tax return for the assessment year 1960-61 showing an income of Rs.45,837. But subsequently he filed a revised return and disclosed a net income of Rs.49,837. His assessment was finalized by the Income-tax officer, H-Ward, Lahore on the 30th of June, 1965. During the course of the assessment proceedings, it came to his notice that in account books of M/s. Radio and General Appliances Ltd., Lahore the following two cash credits were shown to stand in the names of the two sons of the assessee as on 7-10-1959: 1. Muhammad Afzal Rs. 50,000 2. Muhammad Aslam Rs. 48,000 After the necessary enquiry the Income-tax Officer treated the whole of this account of Rs.98,000, as assessee's income from undisclosed sources, invested by him in another concern in the name of his sons. The petitioner went up in appeal against the assessment order before the Income-tax Appellate Tribunal (Pakistan), Lahore. On the 15th of March, 1965 the Tribunal while affirming this part of the order passed by the Income-tax Officer for the addition of Rs.98.000 to the income of the petitioner, partly accepted the appeal…

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