https://www.taxtmi.com/caselaws?id=49494 The Tribunal's finding that the assessee had purchased gold in 1918 and sold it in the relevant year was supported by material because it accepted the assessee's explanation on the basis of his statement, surrounding conduct and past history. Once that version was believed, the statement itself constituted evidentiary support for the factual conclusion, and the absence of further corroboration did not by itself raise a question of law. The High Court was therefore wrong to interfere on that basis, and the answer to the reference was in favour of the assessee. en-us Tue, 10 Jan 1961 00:00:00 +0530 Sun, 31 Aug 2014 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49494 The Tribunal's finding that the assessee had purchased gold in 1918 and sold it in the relevant year was supported by material because it accepted the assessee's explanation on the basis of his statement, surrounding conduct and past history. Once that version was believed, the statement itself constituted evidentiary support for the factual conclusion, and the absence of further corroboration did not by itself raise a question of law. The High Court was therefore wrong to interfere on that basis, and the answer to the reference was in favour of the assessee. Case-Laws Income Tax Tue, 10 Jan 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49494