https://www.taxtmi.com/caselaws?id=23471 Borrowed bank funds were found, on examination of the partners' accounts, to have been diverted for personal use, and that conclusion was treated as a finding of fact rather than a debatable legal issue. On that basis, no question of law arose for reference under section 256(2) of the Income-tax Act. Section 80V was inapplicable because its benefit depended on borrowed money being used for payment of taxes, which was not established. Section 182(4) was also held not to be attracted. The application was dismissed. en-us Fri, 15 Sep 1989 00:00:00 +0530 Sat, 19 Dec 2009 15:20:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23471 Borrowed bank funds were found, on examination of the partners' accounts, to have been diverted for personal use, and that conclusion was treated as a finding of fact rather than a debatable legal issue. On that basis, no question of law arose for reference under section 256(2) of the Income-tax Act. Section 80V was inapplicable because its benefit depended on borrowed money being used for payment of taxes, which was not established. Section 182(4) was also held not to be attracted. The application was dismissed. Case-Laws Income Tax Fri, 15 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23471