https://www.taxtmi.com/caselaws?id=62831 The Tribunal upheld the CIT (Appeals)'s decision, providing relief to the assessee-bank by deleting the disallowance related to the valuation of the closing stock of Government securities. They confirmed that the opening stock should not be revalued on the same principle as the closing stock when there is a bona fide change in the method of valuation. This decision was based on binding judgments from the Hon'ble Allahabad High Court and supported by the Hon'ble Supreme Court and Hon'ble Madras High Court. en-us Wed, 23 Sep 1987 00:00:00 +0530 Sat, 22 Jan 2011 11:28:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62831 The Tribunal upheld the CIT (Appeals)'s decision, providing relief to the assessee-bank by deleting the disallowance related to the valuation of the closing stock of Government securities. They confirmed that the opening stock should not be revalued on the same principle as the closing stock when there is a bona fide change in the method of valuation. This decision was based on binding judgments from the Hon'ble Allahabad High Court and supported by the Hon'ble Supreme Court and Hon'ble Madras High Court. Case-Laws Income Tax Wed, 23 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62831