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Income Tax - Highlights / Catch Notes

Home Highlights June 2012 Year 2012 This

Valuation of stock – change of method of accounting - By ...


Legal Implications of Changing Stock Valuation Method During ERP Transition: Cost Calculation Allowed, Stock Value Reduction Prohibited.

June 21, 2012

Case Laws     Income Tax     AT

Valuation of stock – change of method of accounting - By shifting to a new ERP package, for example, SAP 2 worked out the value of the stock at cost, any reduction in the valuation of the stock is not permitted in law. - AT

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