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2013 (10) TMI 1030 - KARNATAKA HIGH COURT
Depreciation on securities - Whether depreciation claim of ₹ 39,21,52,485 on 'held on maturity' investments by treating it as stock-in-trade despite the same not being traded on a regular basis by the assessee in accordance with the RBI and the Central Board of Direct Taxes Circulars – Held that:- Relying upon the judgment in the case of Karnataka Bank v. CIT reported in [2013 (7) TMI 656 - KARNATAKA HIGH COURT], decided in favor of assessee.