https://www.taxtmi.com/caselaws?id=5066 In an income-tax reference, the High Court could not reappraise evidence or replace the Tribunal's factual finding that termination of the managing agency was not bona fide and was driven by an improper purpose; that finding had to be accepted, with the legal test applied only to those facts. Where, however, the Tribunal's finding on commercial expediency and the business character of the compensation payment was incomplete or unsatisfactory, the proper course was remand for a clear factual finding after considering all relevant material. The High Court's answer was therefore set aside and the deductibility issue remained open pending fresh determination by the Tribunal. en-us Thu, 04 May 1967 00:00:00 +0530 Wed, 19 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5066 In an income-tax reference, the High Court could not reappraise evidence or replace the Tribunal's factual finding that termination of the managing agency was not bona fide and was driven by an improper purpose; that finding had to be accepted, with the legal test applied only to those facts. Where, however, the Tribunal's finding on commercial expediency and the business character of the compensation payment was incomplete or unsatisfactory, the proper course was remand for a clear factual finding after considering all relevant material. The High Court's answer was therefore set aside and the deductibility issue remained open pending fresh determination by the Tribunal. Case-Laws Income Tax Thu, 04 May 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5066