Law:

Section:

Section 144, read with section 147 of the Income-tax Act, 1961 (Corresponding to section 23(4), read with section 34 of the Indian Income-tax Act, 1922) - Best assessment - Assessment year 1948-49 - After completion of assessment ITO came to know that assessee had done considerable speculative business in his own name as also in name of a firm and had also acquired considerable property from such businesses which he had concealed - Assessee pleaded that he had no connection with said firm and, thus, could not submit books of account - ITO made a re-assessment estimating assessee's undisclosed income - Assessee's petition for cancelling re-assessment on basis of relevant books of account of firm was dismissed on ground that case made out now was wholly inconsistent with assessee's declaration made earlier - ITO dismissed said petition - Tribunal while upholding dismissal of assessee's petition under section 27, reduced addition made by ITO - Whether having rejected assessee's petition under section 27, it was improper and illegal on Tribunal's part to refer again to such documents or statements which were part of petition under section 27, and consideration by Tribunal of matters not on record or in evidence or properly brought within procedure of Act vitiated Tribunal's decision on this point - Held, yes - Whether Tribunal's decision to add only a reduced figure was wholly unwarranted by fact and without an iota of evidence in support, while addition made by ITO was based on incontestable facts and evidence on record - Held, yes Section 256, read with section 144, of the Income-tax Act, 1961 [Corresponding to section 66, read with section 23(4) of Indian Income-tax Act, 1922] - High Court - Reference to - Assessment year 1958-59 - Whether in deciding a question of law, High Court has power to interpret any question of fact but this interpretation of fact must be of a fact which is essential for determination of question of law - Held, yes - Whether High Court has unqualified jurisdiction to decide questions of law raised in a reference irrespective of party at whose instance reference is made - Held, yes FACTS Subsequent to completion of the original…

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