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Manual - ICDS II : Valuation of Inventories
Provisions of ICDS II shall not apply to shares of a company in which public are not substantially interested even if these are held as inventory since definition of securities in ICDS VIII specifically includes share of a company in which public are not substantially interested
ICDS II valuation excluded for closely held company shares when ICDS VIII classifies them as securities outside its scope. Shares of a company in which the public are not substantially interested are excluded from ICDS II valuation even if held as inventory, because ICDS VIII's definition of securities expressly includes such shares, placing them outside ICDS II's scope.
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