https://www.taxtmi.com/caselaws?id=57136 Consistent stock valuation was required where the first period's profit had already been computed and accepted on a closing stock figure that necessarily became the opening stock for the second period. A different opening stock value could not be substituted for the later period without reopening the settled computation for the earlier period. On that basis, the revenue could not adopt inconsistent stock values across the two periods, and the disallowance was deleted in favour of the assessee. en-us Thu, 30 Oct 1980 00:00:00 +0530 Wed, 08 Dec 2010 15:50:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57136 Consistent stock valuation was required where the first period's profit had already been computed and accepted on a closing stock figure that necessarily became the opening stock for the second period. A different opening stock value could not be substituted for the later period without reopening the settled computation for the earlier period. On that basis, the revenue could not adopt inconsistent stock values across the two periods, and the disallowance was deleted in favour of the assessee. Case-Laws Income Tax Thu, 30 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57136