Assessing Officer Cannot Alter Closing Stock Valuation if Assessee Uses Recognized Method Like Weighted Average Cost Price.

Assessing Officer Cannot Alter Closing Stock Valuation if Assessee Uses Recognized Method Like Weighted Average Cost Price. https://www.taxtmi.com/highlights?id=68453 Valuation of closing stock - gold and jewellery - AO cannot change the method which was not recognized method as per the prescribed standards for valuation of closing stock, when the assessee has explained the valuation of closing stock by adopting weighted average cost price method - AT en-us Fri, 24 Feb 2023 17:39:59 +0530 Fri, 24 Feb 2023 17:39:59 +0530 TaxTMI RSS Generator Assessing Officer Cannot Alter Closing Stock Valuation if Assessee Uses Recognized Method Like Weighted Average Cost Price. https://www.taxtmi.com/highlights?id=68453 Valuation of closing stock - gold and jewellery - AO cannot change the method which was not recognized method as per the prescribed standards for valuation of closing stock, when the assessee has explained the valuation of closing stock by adopting weighted average cost price method - AT Highlights Income Tax Fri, 24 Feb 2023 17:39:59 +0530 https://www.taxtmi.com/highlights?id=68453