https://www.taxtmi.com/caselaws?id=49455 Section 66(2) reference was unnecessary because the Tribunal's determination that the shares were stock in trade rested on factual inferences from the materials before the taxing authorities - conduct of non sale, progressive increase in holdings, management interest, family holdings and timing of returns - and not on an unresolved question of law. Prior assessments treating the shares as trading were not conclusive for later years since each assessment year stands on its own. No omission to consider material facts or pure legal question was shown; refusal to call for a statement of case was upheld. en-us Wed, 25 Jan 1961 00:00:00 +0530 Sat, 30 Aug 2014 21:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49455 Section 66(2) reference was unnecessary because the Tribunal's determination that the shares were stock in trade rested on factual inferences from the materials before the taxing authorities - conduct of non sale, progressive increase in holdings, management interest, family holdings and timing of returns - and not on an unresolved question of law. Prior assessments treating the shares as trading were not conclusive for later years since each assessment year stands on its own. No omission to consider material facts or pure legal question was shown; refusal to call for a statement of case was upheld. Case-Laws Income Tax Wed, 25 Jan 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49455