Valuation of Closing Stock ::

Last updated: 10 April 2008

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.