Trading of shares, valuation of closing stock

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CA Rapunzel (Querist)
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24 August 2021 My client trades in shares. what should be taken as value of closing stock. Market value or Lower of market price/cost?

CA R SEETHARAMAN (Expert)
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24 August 2021 Lower of market price/cost is the right one.

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CA Rapunzel (Querist)
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25 August 2021 Thank you so much Sir, for your prompt reply.

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