Financial statements that do not record a cash extraction are not 'incontrovertible facts' in the Fox v Percy sense where the trial judge's finding was based on cash flow capacity rather than recorded transactions, and where the integrity of the financial records was not itself in issue. The evidence of a witness whose account is not necessarily inconsistent with the accepted account does not constitute an incontrovertible fact requiring rejection of the accepted account. The comprehensive summary of the law on sufficiency of reasons at paragraphs 106-113, drawing on Hunter v TAC and other authorities, provides a useful reference for practitioners.
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