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Change in method for Valuation of closing stock should be bona fide
Case Law Details
- Case Name
- Triveni Engineering & Industries Ltd. Vs. CIT (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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RELEVANT PARAGRAPH
3. As regards the issue raised with regard to rejecting the method in the change of valuation of closing stock, we find that the finding arrived at by the three authorities below that the change in the valuation of closing stock was not bona fide is a pure finding of fact and no question of law arises much less a substantial question of law. We also agree that the change in the method of valuation of the closing stock was not bona fide because the authorities below have noted that for the assessment year in question seeking of change in the method of valuation of the closing...
