Please tell me whether a company can follow LIFo basis for accounting for sale of investment. Is there any prohibition in AS 13?
Pranav Tibrewal
(Chartered Accountant)
(282 Points)
Replied 05 October 2009
Yes, it possible if company have physical share (investment).
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India