https://www.taxtmi.com/caselaws?id=7915 A factual finding that an assessee carried on a money-lending business cannot stand where the appellate order gives no evidentiary basis for that conclusion. The Tribunal recorded the assessee's assertion that he had taken over and continued the business, but it did not explain the material relied on, such as books of account or other evidence, to support that view. In the absence of a clear factual foundation, the finding was treated as unsupported by record and, therefore, not sustainable. en-us Tue, 10 Mar 1970 00:00:00 +0530 Tue, 24 Mar 2009 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7915 A factual finding that an assessee carried on a money-lending business cannot stand where the appellate order gives no evidentiary basis for that conclusion. The Tribunal recorded the assessee's assertion that he had taken over and continued the business, but it did not explain the material relied on, such as books of account or other evidence, to support that view. In the absence of a clear factual foundation, the finding was treated as unsupported by record and, therefore, not sustainable. Case-Laws Income Tax Tue, 10 Mar 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7915