https://www.taxtmi.com/caselaws?id=21013 HC held that when an assessee is permitted to change the method of valuing closing stock going forward, the opening stock need not be revalued by excluding overhead expenses. The Tribunal's direction to recast opening stock to exclude all overheads was unjustified. The specific question referred was answered against the Tribunal and in favour of the assessee. No order as to costs. en-us Thu, 11 Feb 1993 00:00:00 +0530 Thu, 23 Oct 2025 14:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21013 HC held that when an assessee is permitted to change the method of valuing closing stock going forward, the opening stock need not be revalued by excluding overhead expenses. The Tribunal's direction to recast opening stock to exclude all overheads was unjustified. The specific question referred was answered against the Tribunal and in favour of the assessee. No order as to costs. Case-Laws Income Tax Thu, 11 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21013