2019 (7) TMI 1113 - SCH - Income Tax

Method of Valuation of closing stock - FIFO or LIFO method - as per the assessee undervalued the stock which was below the average cost price of gold - sole question arises in the present appeal as confined to LIFO method - CIT(Appeal) concurrently held that such method was already recognised in law and in any case consistently followed by CIT(Appeal) in several orders - HELD THAT - SLP dismissed.