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2013 (11) TMI 1642 - AT - Income TaxDeduction on account of amortization of depreciation claimed on investment in Govt - Held that:- Merely because the Securities are kept under the head till the maturity, the said Security cannot be treated as a purely investment. Law is well settled that the Securities held by the Bank are in the nature of Stock-in-Trade. Nomenclature cannot be decisive for the assessee Bank. We, therefore, hold that the loss on the sale of the Securities is revenue in nature and same is allowable.
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