Tribunal held that, if the assessee had to change the method of valuing inventory in compliance with Accounting Standard 2 the changed method of valuation had to be applied to all the components of inventory as prescribed under Accounting Standard 2 and the assessee could not be allowed to pick and chose the of valuing inventory to apply a method to some components of inventory and leaving out other components of inventory. It will lose the character of a change of method and lack bona fides and genuineness warranting a change of method of valuation of inventory. The assessee was directed to give justification before the Assessing Officer for adopting different methods for valuing different components of inventory and to prove that these differential methods were consistent with Accounting Standard 2 and there was no intent to reduce tax by applying the new method of valuing finished goods.( AY.2004 -05)