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.
 
Comments


Recent Judgments :

  1. CESTAT: Service Tax Demand Based Solely on ITR Data Unsustainable; 40% Valuation Applicable to Original Works Contract
  2. CESTAT: Renting Vehicles on Per-Trip Basis Not Taxable as Supply of Tangible Goods
  3. CESTAT Denies Refund of Ocean Freight Service Tax Claim Filed Beyond Limitation
  4. CESTAT Quashes Service Tax Demand Based Merely on Form 26AS; Renting of Residential Hostel Held Non-Taxable
  5. CESTAT: Rajasthan Sales Tax Subsidy under RIPS 2010 Not includible in Excise Assessable Value
  6. CESTAT: Late Payment Charges in the Nature of Interest Not Taxable as Declared Service
  7. CESTAT: Educational Services Exempt Under Section 66D; Extended Period Cannot Be Invoked Without Wilful Suppression
  8. CESTAT: No Service Tax on Royalty under RCM if Mining Lease Was Executed Before 1 April 2016
  9. No pre-deposit required for filing appeal before the GSTAT against penalty-only orders where proceedings commenced prior to October 01 2025
  10. Refund cannot be withheld under Section 54(11) of the CGST Act merely because the Revenue contemplates filing an appeal

View More Judgments »


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member CA Ramesh Kr VermaCA Ramesh Kr VermaPro Member Ankur Kumar TiwariAnkur Kumar TiwariPro Member Sharang Sanjay MangalekarSharang Sanjay MangalekarPro Member Dhananjay PatilDhananjay PatilPro Member Richa BajoriaRicha Bajoria
Subscribe to Pro
Join an elite circle of professionals

Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details