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2013 (11) TMI 1584 - AT - Income TaxAmortization premium paid on Govt. Securities - Held that:- We hold that disallowance of expenses under head "amortization of premium paid to Govt. Securities" debited to Profit and Loss Account are not justified the amortization of premium paid on Govt. Securities be allowed as claimed by assessee, Assessing Officer is directed accordingly. Depreciation on securities held by bank as stock entry is directed to be allowed. Addition made on account of suspense account balance - Held that:- The balance in suspense account represents various sums which remain payable at the end of the year which was paid or payable on demand by customers, so addition was not warranted. Accordingly, same be deleted. Learned Authorized Representative submitted that he is ready to justify its claim as per law for which no opportunity was given by lower authorities. In view of this, we restore this issue to Assessing Officer with a direction to decide the same on facts and law after providing due opportunity of hearing.
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