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2017 (5) TMI 1149 - ITAT AHMEDABADDisallowance of devaluation of investment in Govt.Securities - Held that:- We do not find any merit in the action of lower authorities for disallowing loss arose on the year end revaluation of securities. Our view is supported by decision of Hon'ble Bombay High Court in the case of CIT vs. HDFC Bank Ltd. (2014 (8) TMI 119 - BOMBAY HIGH COURT ). The loss claimed by the assessee bank is revenue in character and an allowable business loss. - Decided in favour of assessee
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