1. - At the instance of the Commissioner of Income-tax the Income-tax Appellate Tribunal, Delhi Bench " C ", has referred the following question for our opinion ;

"Whether, on the facts and in the circumstances of the case and in view of the provisions of Section 68 of the Income-tax Act, 1961, the Tribunal was right in law in deleting the cash credit of Rs. 20,000 in the books of account of the assessee on April 7, 1961, from his total income for the assessment year 1962-63 ? "

2. The circumstances which have given rise to the question aforesaid, briefly, stated are these: Lakshman Swaroop Gupta is the proprietor of M/s. Lakshman Swaroop Gupta & Bros., Bharatpur (hereinafter called " the assessee"), who deals in motor parts, electrical goods, miscellaneous articles, tyres and tubes. In the course of assessment proceedings for the assessment years 1961-62 (the previous year being April 16, 1960, to April 15, 1961) the Income-tax Officer found a cash credit entry in the sum of Rs. 20,000 dated April 7, 1961, in the name of Smt. Satyavati Devi, the wife of the assessee. The assessee could not explain the entry satisfactorily and the amount of Rs. 20,000 was added to the assess