TMI Blog2015 (5) TMI 867X X X X Extracts X X X X X X X X Extracts X X X X ..... and considering the paragraph (vii) of the CBDT Circular No.17 of 2008, it is held that the assessee is entitled to the amortization of security premium, as claimed. - Decided in favour of the assessee - Tax Appeal 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 O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l questions of law :- Whether on 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 nature? 2.00. We have heard Mr.Pranav Desai, learned counsel appearing on behalf of the revenue. 2.01. It is undispute ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... present appeal deserves to be dismissed and the questions raised in the present tax appeal are required to be answered against the Revenue and in favour of the assessee. It cannot be said that the learned Tribunal has committed any error in allowing the appeal preferred by the assessee and in holding that the amortization of security premium, as claimed by the assessee, is allowable, more particul ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
