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Judgment
Mrs. Sujata Manohar, J.—This is an application under s. 256(2) of the IT Act, 1961. The applicant desires the following two questions to be raised and referred to us by the Tribunal for determination :
"1. Whether, on the facts and circumstances of the case, the Tribunal was justified in holding that the loan taken from Miss Kanta R. Choudhary is income from undisclosed sources of the appellant ?
Whether, on the facts and circumstances of the case, the Tribunal was justified in confirming the interest disallowed by the Assessing Officer ?"
Rule has not been issued regarding other questions.
The order of the Tribunal dt. 24th December, 1990, which has rejected the reference applications, sets out in paragraph 3 the circumstances in which the Tribunal came to the conclusion that Miss Kanta R. Choudhary had no capacity to advance the loans of Rs. 39,145 in the year 1981-82 and Rs. 10,000 in the year 1982-83. The conclusion of the Tribunal that these were not genuine loans is based on an appreciation of facts. The interest payment on these cash credits has been disallowed on the same basis. In these circumstances, no question of law arises from the Tribunal''s order which requires to be raised and referred to us. The findings that Miss Kanta R. Choudhary had no income, resources or capacity to advance such loans and that these advances were not genuine loans, are findings on appreciation of facts and hence rule is discharged.
Rule discharged with no orders as to costs.