In case of Company Assessee who is engaged in manufacturing activity while computing closing stock whether depreciation as per companies Act is to be cosidered or Depreciation as per Income Tax Act.
17 December 2012
pl explain how depreciation has effect on valuation of closing stock. if you mean loading depreciation burden on finished goods then it has to be as per companies act only, still i dont think most companies value the closing stock the way you want to do it..
CAclubindia
