https://www.taxtmi.com/caselaws?id=12245 In proceedings under Section 256(2) of the Income-tax Act, the Madhya Pradesh High Court treated the Tribunal's finding that the disputed amount was an irrecoverable debt, and not an investment transaction, as a finding of fact. The Tribunal had noted that the debtor company had taken a loan from the assessee and that the related interest had been treated as income in the relevant previous year. On that basis, the Court held that no question of law arose from the admissibility of the bad debt claim, so reference under Section 256(2) was not warranted and the request for reference was rejected. en-us Tue, 16 Jul 2002 00:00:00 +0530 Sat, 20 Feb 2010 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12245 In proceedings under Section 256(2) of the Income-tax Act, the Madhya Pradesh High Court treated the Tribunal's finding that the disputed amount was an irrecoverable debt, and not an investment transaction, as a finding of fact. The Tribunal had noted that the debtor company had taken a loan from the assessee and that the related interest had been treated as income in the relevant previous year. On that basis, the Court held that no question of law arose from the admissibility of the bad debt claim, so reference under Section 256(2) was not warranted and the request for reference was rejected. Case-Laws Income Tax Tue, 16 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12245