https://www.taxtmi.com/caselaws?id=152211 In a tax reference, the Supreme Court held that a factual finding must rest on some legal admissible evidence, and it may not be sustained on mere suspicion or conjecture. The Tribunal's conclusion that the transactions were not those of the assessee firm was unsupported by legal evidence, so that issue was decided for the assessee. The Court also held that a loss arising from a separate unregistered partnership could be set off only by the assessee who legally suffered that loss. As the registered firm was not that entity, it could not claim the set-off, and that issue was decided against the assessee. en-us Fri, 12 Oct 1962 00:00:00 +0530 Wed, 07 Aug 2013 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152211 In a tax reference, the Supreme Court held that a factual finding must rest on some legal admissible evidence, and it may not be sustained on mere suspicion or conjecture. The Tribunal's conclusion that the transactions were not those of the assessee firm was unsupported by legal evidence, so that issue was decided for the assessee. The Court also held that a loss arising from a separate unregistered partnership could be set off only by the assessee who legally suffered that loss. As the registered firm was not that entity, it could not claim the set-off, and that issue was decided against the assessee. Case-Laws Income Tax Fri, 12 Oct 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152211