Gulati, J. - This is an application under section 256(2) of the Income-tax Act, 1961 at the instance of Commissioner of Income-tax, Kanpur.
2. The assessee had taken some over-draft from his Bankers. He had tendered some fixed deposit as margin money. The Income-tax Department sought to treat the amount of fixed deposit as assessees income from undisclosed source. The Tribunal has found that it had not been proved that the fixed deposit belonged to the assessee. In doing so, that Tribunal has taken into consideration the statement of the Manager of the Bank and the conduct of the assessee and several other circumstances. The ultimate finding of the Tribunal is that the assessee is not the owner of fixed deposit. This is a pure finding of fact and bases as it is on relevant material, cannot be questioned in a reference.
3. The application is accordingly rejected.