https://www.taxtmi.com/caselaws?id=281403 The High Court upheld the ITAT's decision to accept the weighted average method for valuing closing stock for A.Y. 2008-09, dismissing the appeal and finding no substantial question of law. The Court disagreed with the Revenue's preference for the FIFO method, noting that the weighted average method is an accepted mode for stock valuation and that the appellant's approach was consistent with previous years. en-us Tue, 05 Feb 2019 00:00:00 +0530 Mon, 17 Jun 2019 21:52:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281403 The High Court upheld the ITAT's decision to accept the weighted average method for valuing closing stock for A.Y. 2008-09, dismissing the appeal and finding no substantial question of law. The Court disagreed with the Revenue's preference for the FIFO method, noting that the weighted average method is an accepted mode for stock valuation and that the appellant's approach was consistent with previous years. Case-Laws Income Tax Tue, 05 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281403