If the method of valuation remained the same as it was and the Assessing Officer carried out some alterations in the method of valuation of closing stock, such alterations would have also to be given effect in the valuation of opening stock. Since the assessee had been consistently valuing its stock of jewellery in the same manner under the “last in, first out” method, which was also accepted by the Department, the Commissioner (Appeals) was fully justified in continuing with the same method of valuation. (AY. 2013-14)