https://www.taxtmi.com/caselaws?id=25231 Questions under section 256(2) were held not to give rise to any referable question of law. The addition relating to charity included in the cotton purchase price was covered by Supreme Court authority treating such receipts as non-revenue in nature, so no reference was required. The proposed notional interest addition on debit balances turned on the Tribunal's factual findings that the tax authority produced no supporting evidence and that the assessee's business and financial circumstances did not justify an inference of extra-commercial credit accommodation. On that fact-based assessment, no legal issue arose. en-us Mon, 19 Oct 1987 00:00:00 +0530 Wed, 27 Jan 2010 12:43:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25231 Questions under section 256(2) were held not to give rise to any referable question of law. The addition relating to charity included in the cotton purchase price was covered by Supreme Court authority treating such receipts as non-revenue in nature, so no reference was required. The proposed notional interest addition on debit balances turned on the Tribunal's factual findings that the tax authority produced no supporting evidence and that the assessee's business and financial circumstances did not justify an inference of extra-commercial credit accommodation. On that fact-based assessment, no legal issue arose. Case-Laws Income Tax Mon, 19 Oct 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25231