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[2008] 304 ITR 375 [2009] 182 TAXMAN 170 (ALL.) HIGH COURT OF ALLAHABAD Commissioner of Income-tax v. Shri Ram Enterprises* R.K. AGRAWAL AND VIKRAM NATH, JJ. INCOME-TAX REFERENCE NO. 99 OF 1999 JULY 31, 2007 Section 68 of the Income-tax Act, 1961 - Cash credits - Assessment year 1990-91 - Assessee-firm, dealing in purchase and sale of supari and kattha, filed its return of income - During course of assessment proceedings, Assessing Officer found that assessee had raised certain funds which were invested in FDRs - Assessee could not prove source of said funds and, therefore, Assessing Officer treated those funds as unexplained credits under section 68 - Tribunal, however, deleted entire additions made by Assessing Officer - On instant reference, it was seen that Tribunal had accepted assessee's explanation regarding amounts deposited as well as source and genuineness of deposits - Further, as regards question whether under rule 29 of Income-tax (Appellate Tribunal) Rules, 1963, Tribunal could have admitted additional evidence in terms of letter filed by assessee, it was noted that while permitting said letter to be brought on record Tribunal had recorded finding that letter was nothing but facts which were already on record either in case of assessee or in case of depositors and, therefore, strictly speaking it was not an additional evidence but was an additional information for which sufficient reasons had been given - Whether aforesaid finding recorded by Tribunal was a pure finding of fact based on appreciation of evidence and material on record which did not require any interference - Held, yes R.K. Upadhyay for the Appellant. R.S. Agrawal for the Respondent. JUDGMENT 1. The Income-tax Appellate Tribunal, Allahabad, has referred the following questions under section 256(1)/(2) of the Income-tax Act, 1961 ('the Act'), for the opinion of this court : "1. Whether, on the facts and in the circumstances of the case, the hon'ble Income-tax Appellate Tribunal was justified in law in deleting the addition of Rs. 3,38,000 made under section 68 of the Act and interest thereon of Rs. 52,493 on the ground that the assessee had discharged its onus of proving the…

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