1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICGTION INCOME TAX REFERENCE NO. 447 of 1995 The Commissioner of Income Tax ... Applicant. vs. M/s. Yusuf Ahmed & Co. ... Respondent Mr. Parag Vyas for Applicant. Mr. S. V. Pikole for Respondent. CORAM: V. C. DAGA AND A. S. AGUIAR JJ. Date: 10th August, 2005. P. C.: 1. By this reference under section 256 (1) of the Income Tax Act , 1961, the Income Tax Appellate Tribunal has referred the following questions of law for the opinion of this court: “Whether on the facts and circumstances of the case, the Tribunal was justified in deleting the addition of Rs.91,000/- made by the Assessing Officer on account of bundi loans invoking the provisions of section 69D of the Income Tax Act , 1961 which apply to the facts of the case? 2. Heard learned counsel for both sides. Perused reference proceedings. 3. For the reasons recorded by us in our judgment dated 1st July 2005 passed in Income Tax Reference No. 397 of 1988 (C.I.T. vs. M/s. 2 Pithwa Engg. Works), wherein we have relied upon decision of this court in the case of Commissioner of Income-tax v/s. Camco Colour Co., reported in ITR Vol. 254 (2002), page 565 we do not think it necessary to answer the reference made to this Court for the Assessment Years 1976-77 and 1977-78, having negligible tax effect. Accordingly, reference stands returned unanswered with no order as to costs. (A. S. AGUIAR J.) (V. C. DAGA J. ) -x-