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Valuation of Closing Stock ::

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Court :
HC

Brief :
Held by the Hon`ble Court that, the two different method of valuation of closing stock are not permissible under law. If permitted it would lead to anomalous results.

Citation :
C.I.T. Vs. Sherwani Sugar Syndicate Ltd

Valuation of Closing Stock C.I.T. Vs. Sherwani Sugar Syndicate Ltd 10/30/2006 [2007] 294 ITR 247 (All) Case Fact: Whether, different method for valuation of part of closing stock is permissible under law? Decision: Held by the Hon`ble Court that, the two different method of valuation of closing stock are not permissible under law. If permitted it would lead to anomalous results.
 

CA.Saibaburao Nanduri
on 10 April 2008
Published in Income Tax
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