https://www.taxtmi.com/caselaws?id=20182 A Tribunal's finding, based on appreciation of evidence, that shares and units were held as stock-in-trade is treated as a finding of fact and does not ordinarily raise a referable question of law. The note also records that, on settled precedent, interest or dividend from Government securities or similar investments held as stock-in-trade by a co-operative society may qualify for exemption under section 80P(2), so no fresh or statable question of law arises for reference under section 256(2). The practical effect is that factual findings and issues governed by existing precedent will not justify a reference to the High Court. en-us Wed, 23 Feb 1994 00:00:00 +0530 Thu, 12 Nov 2009 12:51:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20182 A Tribunal's finding, based on appreciation of evidence, that shares and units were held as stock-in-trade is treated as a finding of fact and does not ordinarily raise a referable question of law. The note also records that, on settled precedent, interest or dividend from Government securities or similar investments held as stock-in-trade by a co-operative society may qualify for exemption under section 80P(2), so no fresh or statable question of law arises for reference under section 256(2). The practical effect is that factual findings and issues governed by existing precedent will not justify a reference to the High Court. Case-Laws Income Tax Wed, 23 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20182