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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

          Provisions expressly mentioned in the judgment/order text.

          <h1>Inventory valuation under income computation standards governs cost versus net realisable value and inclusion of taxes in valuation.</h1> Clause 277 prescribes that inventory for business income is valued at the lower of actual cost or net realisable value under the income computation and disclosure standards, with purchase, sale and inventory valuations adjusted to include any tax, duty, cess or fee actually incurred to bring goods or services to their location and condition. Securities inventories are addressed separately, with unlisted or irregularly quoted securities recognised at actual cost and other securities valued at lower of cost or net realisable value, with category-wise comparisons and special banking institution rules.

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