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Commissioner of Income Tax Versus Co-Operative Bank of Rajkot Ltd

2015 (5) TMI 867 - GUJARAT HIGH COURT

Amortization of premium paid on investments under "held to maturity category" - ITAT holding that the same is revenue expenditure in nature - held that:- The identical question came to be considered by in the case of Rajkot Dist.Co-op. Bank Ltd. [201 .....

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No. 321 of 2015, Tax Appeal No. 322 of 2015 - Dated:- 5-5-2015 - M R Shah And S H Vora,JJ. For the Appellant : Mr Pranav G Desai, Adv. For the Respondent : None ORDER (Per : Honourable Mr. Justice M. R. Shah) 1.00. Feeling aggrieved and dissatisfied .....

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x Appeals with the following proposed substantial questions of law :- TAX APPEAL No.321 of 2015 Proposed substantial questions of law :- "Whether on the facts and in the circumstances of the case, learned ITAT is justified in allowing ₹ 68 .....

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the facts and in the circumstances of the case, learned ITAT is justified in allowing ₹ 68,98,000/- being amortization of premium paid on investments under "held to maturity category" holding that the same is revenue expenditure in na .....

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nd in favour of the assessee. The identical question came to be considered by the Division Bench of this Court in the case of Rajkot Dist.Co-op. Bank Ltd. and considering the paragraph (vii) of the CBDT Circular No.17 of 2008, it is held that the ass .....

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