Valuation of Closing Stock

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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.
 


CA. Shikha

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