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The Pr. Commissioner of Income Tax-1 Versus Bank of Maharashtra

Addition in allowing loss of valuation of Held to Maturity (HTM) securities, when HTM securities are capital in nature - Held that - The change sought in the method of valuation of its stock is not bonafide and that it is not regularly followed thereafter. Its only grievance is that these RBI guidelines classify the same as Investments and, therefore, for the purpose of the Act also HTM securities should be considered to be the Investments. It is well settled that merely because RBI guidelines d....... + More



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