Practical issue in capital gain on shares

Saurabh Maheshwari (B.com,ACA) (5923 Points)

06 July 2012  

Dear Friends,

In FY 2011-12 I purchased the shares of Suzlon Energy Ltd. as on-

1. on Apr.25,2011 -500 shares @ Rs. 55

2. on June 25,2011-800 shares @ Rs. 65 each

3. On Dec,31 2011- 1500 shares @ rs. 79 each

On Jan 25,2011 sold 2000 shares @ Rs. 88 each

Considering  the above facts please advise on which basis valuation of stock of 800 shares to be made-FIFO or Weighted Avg, is there any guidance note to this effect or any circular issued , pls let me know....

I will be thankful for your advise...