https://www.taxtmi.com/caselaws?id=6276 A debt written off was held not deductible where the Tribunal's supplementary findings of fact showed that the amounts sent to the Bombay firm were neither loans made in the ordinary course of the assessee's money-lending business nor referable to any other business of the assessee. Those factual findings were supported by the evidence, and because the entire claim was covered by that conclusion, no part of the debt could be allocated as deductible on the facts found. The deduction under section 10(2)(xi) of the Indian Income-tax Act, 1922 was therefore disallowed, and the answer to the reframed question was against the assessee. en-us Thu, 21 Jan 1971 00:00:00 +0530 Wed, 03 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6276 A debt written off was held not deductible where the Tribunal's supplementary findings of fact showed that the amounts sent to the Bombay firm were neither loans made in the ordinary course of the assessee's money-lending business nor referable to any other business of the assessee. Those factual findings were supported by the evidence, and because the entire claim was covered by that conclusion, no part of the debt could be allocated as deductible on the facts found. The deduction under section 10(2)(xi) of the Indian Income-tax Act, 1922 was therefore disallowed, and the answer to the reframed question was against the assessee. Case-Laws Income Tax Thu, 21 Jan 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6276