https://www.taxtmi.com/caselaws?id=10311 The High Court dismissed the Revenue's petition seeking a direction for the Income-tax Appellate Tribunal to refer a question of law related to the valuation of closing stock. The Tribunal's decision, upholding the Commissioner of Income-tax (Appeals)'s acceptance of a bona fide change in valuation method by the assessee, was deemed factual and not a legal matter. The Court emphasized that factual findings do not raise questions of law for judicial review, concluding that the change in valuation method was consistent and legitimate, leading to the dismissal of the Revenue's appeal. en-us Thu, 05 Aug 2004 00:00:00 +0530 Mon, 13 Jul 2009 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10311 The High Court dismissed the Revenue's petition seeking a direction for the Income-tax Appellate Tribunal to refer a question of law related to the valuation of closing stock. The Tribunal's decision, upholding the Commissioner of Income-tax (Appeals)'s acceptance of a bona fide change in valuation method by the assessee, was deemed factual and not a legal matter. The Court emphasized that factual findings do not raise questions of law for judicial review, concluding that the change in valuation method was consistent and legitimate, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Thu, 05 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10311