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1996 (11) TMI 107 - ITAT DELHI-D
Extract:
.......ent would have to be made in the valuation of closing stock to be carried over to the subsequent period. 21. We would also like to clarify that by the present judgment we have not decided the reverse situation, i.e., when the liability is reduced consequent to devaluation. 22 to 27. These paras are not reproduced here, as they involve minor issues.