https://www.taxtmi.com/caselaws?id=466576 Whether Tribunal determinations about reconciliation of physical stock with books and inventory valuation during a search raise substantial questions of law was considered. The Tribunal relied on documentary verification of purchases/receipts, factual reconciliation of quantities found, and application of recognized cost valuation methods (FIFO or average cost), concluding valuation at cost (or lower of cost and market) and accepting reconciliation. Those findings were treated as factual and documentary in nature and therefore not a substantial question of law; the appeal challenging those factual and valuation findings was dismissed in favour of the assessee. en-us Tue, 06 Feb 2024 00:00:00 +0530 Thu, 12 Feb 2026 19:01:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466576 Whether Tribunal determinations about reconciliation of physical stock with books and inventory valuation during a search raise substantial questions of law was considered. The Tribunal relied on documentary verification of purchases/receipts, factual reconciliation of quantities found, and application of recognized cost valuation methods (FIFO or average cost), concluding valuation at cost (or lower of cost and market) and accepting reconciliation. Those findings were treated as factual and documentary in nature and therefore not a substantial question of law; the appeal challenging those factual and valuation findings was dismissed in favour of the assessee. Case-Laws Income Tax Tue, 06 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466576