Tag Archives: Closing Stock Valuation

Change in method of valuation of closing stock allowed : High Court

By | October 27, 2016

Held so long as the change made by the assessee in his method of accounting is bona fide and amounts to a permanent arrangement to be followed, the Revenue has no cause to complain. The conclusion drawn by the Tribunal that the change in the method of valuation adopted by the assessee, namely, from “lowest… Read More »