( 1 ) AT the instance of assessee, following questions have been referred for opinion of this Court under Section 256 (1) of the Income-tax Act, 1961 (in short the act ), by the Income-tax Appellate Tribunal, Delhi Bench a (for short the Tribunal):

"1. Whether on the facts and in the circumstances of the case, the Tribunal was right in its interpretation of the provisions of sub-section (4a) of Section 132 of the Income-tax Act, 1961 ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in sustaining the addition made by the lower authorities u/s 68 when the cash credits are found in the books of account seized under Section 132?"

( 2 ) THE dispute relates to two years, i. e. , Assessment years 1970-71 and 1972-73. Brief reference to the factual aspects would suffice. A search was conducted in the premises of assessee on 8/12/1972 under Section 132 of the Act. During the course of search, certain books of account and other documents were seized by the authorised officials. Certain cash credits were noticed in the books of account seized. At the time of assessment for the Assessment Years 1970-71 and 1972-73, income-tax Officer sought