Valuation of Closing Stock

Last updated: 24 November 2008

Court :
Tribunal

Brief :
Whether, different method for valuation of part of closing stock is permissible under law?

Citation :
C.I.T. Vs. Sherwani Sugar Syndicate Ltd [2007] 294 ITR 247 (All)

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. Appellate Authority has no power to condone delay in filing appeal beyond the outer limit prescribed under Section 107(4) of the CGST Act
  2. CESTAT New Delhi: Sub-Contractor Separately Liable for Service Tax Regardless of Main Contractor's Discharge
  3. Cenvat Credit Cannot Be Denied Merely on Third-Party Statements Without Corroborative Evidence
  4. CESTAT: Service Tax Not Leviable on Unclaimed Amounts Written Off Without Evidence of Taxable Service
  5. Partners of a Partnership Firm are personally liable for GST dues of the Firm and bank account of an erstwhile partner can be attached for recovery
  6. Prima facie satisfaction and not conclusive proof of fraud is sufficient to invoke Section 74 of the CGST Act
  7. Show Cause Notice issued to a non-existent amalgamated company is void ab initio and cannot be saved by Section 87 of the CGST Act
  8. SC Landmark Ruling: Mechanical Invocation of Fraud Cannot Extend Limitation under Section 74 of the CGST Act
  9. CESTAT Sets Aside ₹60 Crore Service Tax Demand: Best-Judgment Assessment Cannot Be Based on Guesswork
  10. CESTAT: Excess Service Tax Paid by Mistake Is a Deposit — Refund Not Barred by Section 11B Limitation

View More Judgments »


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member S Chandra Sekhar ReddyS Chandra Sekhar ReddyPro Member Prakash MistryPrakash MistryPro Member sbhagi299sbhagi299Pro Member VIJAY M DHANAKVIJAY M DHANAKPro Member ALOK AGRAWALALOK AGRAWAL
Subscribe to Pro
Join an elite circle of professionals

Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 August 2026
Article Assistant

Sanath Sheshagiri & Co.

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
25 August 2026
Senior Accountant

MG Associates

New Delhi

CA Inter

View Details
Company
11 August 2026
Chartered Accountant

Aviv Global Pvt Ltd

Ahmedabad

CA

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details
Company
08 August 2026
International Corporate Tax Advisory

Shulke

Bengaluru

CA

View Details