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2015 (11) TMI 1386 - AT - Income TaxDisallowance of amortization of premium on investment in Government Securities Held to Maturity (HTM) - CIT(A) allowed claim - whether the securities under the categories of HTM are in the nature of capital asset and hence premium paid thereon is also a capital expenditure and therefore is not allowable revenue expenditure? - Held that:- As held in the case of Catholic Syrian Bank Ltd. Vs. ACIT [2013 (1) TMI 129 - ITAT COCHIN] that amortization on purchase of Government securities was made as per prudential norms of the RBI and same was allowable deduction. The issue regarding amortization of premium on investment in Government Securities Held to Maturity (HTM) has been repeatedly raised and the Tribunal has been consistently deciding the issue in favour of the assessee. No infirmity in the order of the Ld.CIT(A) deleting the addition - Decide against revenue.
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