{"id":56086,"date":"2025-08-18T18:24:42","date_gmt":"2025-08-18T12:54:42","guid":{"rendered":"https:\/\/itatonline.org\/digest\/p-a-jose-v-uoi-2025-343-ctr-499-kerhc\/"},"modified":"2025-08-18T18:24:42","modified_gmt":"2025-08-18T12:54:42","slug":"p-a-jose-v-uoi-2025-343-ctr-499-kerhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/p-a-jose-v-uoi-2025-343-ctr-499-kerhc\/","title":{"rendered":"P.A. Jose v. UOI (2025) 343 CTR 499 (Ker)(HC)"},"content":{"rendered":"<p>Assessees consistently followed LIFO method till AY 2017-18. Retrospective amendment by Finance Act, 2018 requiring FIFO could not be applied to opening stock of AY. 2017-18 as returns were filed earlier. Court directed that both opening and closing stock for AY 2017-18 be valued under same method, either LIFO or FIFO\/Weighted Average, and quashed contrary notices. (AY. 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 145 : Method of accounting-Valuation of stock-LIFO method-Retrospective ICDS (II) mandating FIFO\/Weighted Average not applicable to AY 2017-18 opening stock-Relief granted. [S. 145(2), 145A, ICDS (II), Art. 14, 226]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-56086","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eAC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=56086"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56086\/revisions"}],"predecessor-version":[{"id":56087,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56086\/revisions\/56087"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=56086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=56086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=56086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}