Law:

Section:

Section 69B of the Income-tax Act, 1961 - Undisclosed investment Tribunal accepted assessee's case regading investment in construction of house, considering report of approved valuer, entries made in diary seized by Department and other relevant material - Whether Tribunal recorded a pure finding of fact and, therefore, no question of law arose out of its order - Held, yes FACTS A diary was seized in which some entries relating to the construction of a house were found. On the basis of those entries, a higher investment was assessed by the Department, but the Tribunal accepted the case of the assessee considering the report of the approved valuer, the entries made in the diary seized by the Department and other relevant materials. The Tribunal also declined to make reference under section 256(1). On application under section 256(2): HELD The question for consideration before the Tribunal was as to what investment was made in the construction of house by the two brothers. From the facts it appeared that no question of law arose and a pure finding of fact was recorded by the Tribunal regarding the investment made towards the construction of the house. Therefore, the instant application failed and was dismissed. Note : The decision was in favour of the assessee. JUDGMENT Om Parkash, J.-Heard counsel for the applicant. The Department has raised the following…

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