https://www.taxtmi.com/caselaws?id=463870 The Revenue's challenge to the assessee's accounting method failed because the Tribunal's findings were supported by the record: the assessee consistently followed the average cost method for valuing closing stock, maintained proper books of account, and showed no defect in purchases or sales. In the absence of any material showing non-compliance with notified accounting standards or a perversity in the factual findings, no substantial question of law arose from the Tribunal's order. Acceptance of the same method in earlier years also supported the conclusion in favour of the assessee. en-us Mon, 06 Mar 2017 00:00:00 +0530 Fri, 19 Sep 2025 18:58:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463870 The Revenue's challenge to the assessee's accounting method failed because the Tribunal's findings were supported by the record: the assessee consistently followed the average cost method for valuing closing stock, maintained proper books of account, and showed no defect in purchases or sales. In the absence of any material showing non-compliance with notified accounting standards or a perversity in the factual findings, no substantial question of law arose from the Tribunal's order. Acceptance of the same method in earlier years also supported the conclusion in favour of the assessee. Case-Laws Income Tax Mon, 06 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463870