Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Valuation of Closing Stock ::

Last updated: 10 April 2008

Save Share

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.

134 Views Comment Share Income Tax Report

Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

View Judgements

Comments