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2021 (9) TMI 484 - HC - Income TaxAdditions made on the interest on securities - HELD THAT:- As decided in CITY UNION BANK LIMITED. [2007 (2) TMI 187 - MADRAS HIGH COURT] held that the assessee is taxable for interest on securities only on specified dates when it becomes due for payment, in view of third proviso to s.145(1) of the Act, which was in force during the relevant assessment years. Loss on revaluation on securities - HELD THAT:- As decided in CITY UNION BANK LIMITED. [2007 (2) TMI 187 - MADRAS HIGH COURT] held that when investments are made in accordance with the requirements of the Act, wherein the market price changed from the value shown in the opening balance and at the end of the year, the same could be allowed as depreciation. Substantial questions of law are answered against the revenue
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