https://www.taxtmi.com/caselaws?id=24989 Valuation of unrecorded parcels was treated as a factual determination based on the Tribunal's findings on weights, book entries, and purchase prices, so it did not give rise to a referable question of law under section 256(2) of the Income-tax Act, 1961. The addition of unexplained cash credits in partners' names was likewise held to turn on the sufficiency of the assessee-firm's explanation and the factual appreciation of the evidence, and no distinct legal issue emerged from the alternative contention that the addition could lie only in the partners' hands. The application to require a case to be stated was therefore declined. en-us Mon, 09 Nov 1987 00:00:00 +0530 Sat, 23 Jan 2010 15:57:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24989 Valuation of unrecorded parcels was treated as a factual determination based on the Tribunal's findings on weights, book entries, and purchase prices, so it did not give rise to a referable question of law under section 256(2) of the Income-tax Act, 1961. The addition of unexplained cash credits in partners' names was likewise held to turn on the sufficiency of the assessee-firm's explanation and the factual appreciation of the evidence, and no distinct legal issue emerged from the alternative contention that the addition could lie only in the partners' hands. The application to require a case to be stated was therefore declined. Case-Laws Income Tax Mon, 09 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24989