https://www.taxtmi.com/caselaws?id=25757 In reference proceedings, a valuation based on the statutory open-market standard and reached on the facts of the record is a finding of fact unless shown to be perverse or unsupported by evidence. A proposed question on deduction of 35% from export invoice value for market valuation under rule 2B(2) was therefore not referable. A question founded on section 18 of the Foreign Exchange Regulation Act was also not referable because it had not been advanced before the Tribunal and did not arise from its order. A dependent question on the applicability of rule 2B(2) failed for the same reason. en-us Wed, 04 Sep 1985 00:00:00 +0530 Sat, 30 Jan 2010 17:07:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25757 In reference proceedings, a valuation based on the statutory open-market standard and reached on the facts of the record is a finding of fact unless shown to be perverse or unsupported by evidence. A proposed question on deduction of 35% from export invoice value for market valuation under rule 2B(2) was therefore not referable. A question founded on section 18 of the Foreign Exchange Regulation Act was also not referable because it had not been advanced before the Tribunal and did not arise from its order. A dependent question on the applicability of rule 2B(2) failed for the same reason. Case-Laws Wealth-tax Wed, 04 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25757