2017 (10) TMI 384

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Alok Mathur ORDER 1. Heard Sri Alok Mathur, learned counsel for appellant and perused the record. 2. This appeal under Section 260A of Income Tax Act, 1961 (hereinafter referred to as the "Act, 1961") has arisen from judgment and order dated 26.04.2017 passed by Income Tax Appellate Tribunal, Lucknow Bench 'B', Lucknow (hereinafter referred to as the "Tribunal") in Income Tax Appe....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... is same as it was for closing stock of previous year. If accounting system is to be changed obviously it has to be changed from opening stock of the year onward and that is what has been done in the case in hand. Therefore, it cannot be said that whatever method followed in opening stock that has not been followed in closing stock. Method of previous year cannot be applied otherwise there would b....