https://www.taxtmi.com/caselaws?id=244878 The Tribunal approved the change in the method of valuation by the assessee, citing accounting principles and legal precedents. It emphasized the need for consistency in valuation methods for opening and closing stock to ensure accurate profit determination. The matter was remanded to the CIT(A) for a decision on adjusting the opening stock valuation. The Revenue's appeal was allowed for statistical purposes. en-us Wed, 26 Feb 2014 00:00:00 +0530 Tue, 11 Mar 2014 07:01:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244878 The Tribunal approved the change in the method of valuation by the assessee, citing accounting principles and legal precedents. It emphasized the need for consistency in valuation methods for opening and closing stock to ensure accurate profit determination. The matter was remanded to the CIT(A) for a decision on adjusting the opening stock valuation. The Revenue's appeal was allowed for statistical purposes. Case-Laws Income Tax Wed, 26 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244878