J.J. Enterprises vs Commissioner Of Income-Tax

The Supreme Court granted leave and allowed the appeal, setting aside the High Court's order that called for a reference under Section 256(2) of the Income-tax Act, 1961. The Court held that the Income-tax Appellate Tribunal's conclusion that the addition of Rs. 19,66,550 was based on 'pure guess work' was a matter of fact, and thus the Tribunal's decision was final. The Court emphasized that there was no basis for remanding the matter to the Assessing Officer for re-examination, as the question was not one of law but of fact.