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2007 (6) TMI 196 - MADRAS HIGH COURTWhen the change of accounting method is bona fide and is recognized in accounting principles, the resultant variation in income cannot be forced to be taxed upon the assessee – revenue submit that there is reduction in profit in year of change of method of accounting - assessee was entitled to value its opening stock in one way and the closing stock in another – AO is not justified in treating the amount of reduction as income of assessee
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