Law:

Section:

Section 143 of the Income-tax Act, 1961 [Corresponding to section 23 of the Indian Income-tax Act, 1922] - Assessment - Additions to income - Assessment year 1955-56 - Assessee purchased a land in name of his wife and constructed house property thereon - Cost of construction, according to assessee, was met by sale proceeds of his wife's gold jewellery - Tribunal found that assessee's explanation as to source of income was at variance with evidence actually adduced by assessee - It also found that though assessee claimed to have maintained full accounts of cost of construction, he, however, failed to produce same - Further it also rejected evidence of parties to whom gold had been purchased and sold for reason of unsatisfactory nature of accounts books produced by assessee - Accordingly in these circumstances Tribunal held that amount in question represented assessee's own income from circumstances undisclosed sources and as such upheld addition made by lower authorities - Whether since Tribunal had arrived at its findings of after proper appraisement of all evidence placed before it, such findings could not be interfered with - Held ,yes FACTS During the assessment proceedings, the ITO found that a plot of land had been purchased in the name of the assessee's wife, in the year 1951-52 for Rs. 14,724 and that a house had been constructed on the said plot, the construction having commenced in February, 1952, and completed in March, 1954. The ITO having found that the assessee had not withdrawn any sum for the construction of the said property, called upon the assessee to explain the source from which the cost of construction was met. The assessee explained that cost of construction of the house as per the architect's certificate was Rs. 59,704 and that the cost of construction of the house was met by his wife by the sale of her ornaments. In support of this explanation, the assessee filed five invoices of 'P' showing that gold worth Rs. 66,000 was purchased by the assessee's wife. 'P' was also examined before the ITO and he admitted that the invoices belonged to him. The assessee also produced the books of account of 'R' to whom the gold had been sold and also…

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