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2001 (10) TMI 1188 - HC - Income TaxExtract: ....... market price, whichever is lower. That is an established rule of commercial practice and accountancy. . . ." (p. 878) 4. The answer to the second question as to whether the opening stock of the chicks as also the closing stock should be on the basis of realisable value is, therefore, answered against the Revenue and in favour of the assessee.
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