2009 (1) TMI 522

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..... ered against the revenue by virtue of the decision of this Court in CIT v. Woodward Governor India (P.) Ltd. [2007] 294 ITR 451 (Delhi). 3. In regard to the first question, the Assessing Officer has observed that the assessee was following a different method for valuing inventory up to the last year. The assessee has changed the method of valuation of inventory, which has resulted in the inventor .....

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..... he year in question, since the method is to be followed consistently year after year in future, this apparent detriment to the revenue will get adjusted and disappear. Therefore, in view of the findings of the Tribunal that the change of the method is bona fide and is intended to be followed in future, year after year, the change has to be accepted by the revenue, notwithstanding the fact that dur .....

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