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2019 (1) TMI 1701 - CALCUTTA HIGH COURTAppeal u/s 260A - methods of accounting valuation of sharers - HELD THAT:- This is an appeal under Section 260A of the Income Tax Act, 1961. We have carefully tried to scrutinize the submissions made by Mr. Kundalia, learned Counsel for the revenue and Mr. Khaitan, learned Senior Counsel for the assessee. If this was a first appeal, we would have without any hesitation admitted it on all the questions of law and facts proposed to be raised by Mr. Kundalia. But the principles of law for admission and hearing of an appeal under Section 260A are very defined and limited. The views canvassed by Mr. Kundalia would at best be described as plausible views on methods of accounting valuation of sharers. But we do accept the finding of the tribunal that "the valuer in our considered view has followed an accepted method of valuation and has based his decision on relevant material". We do not intend to interfere with that finding by entertaining this appeal.
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