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Asstt. Commissioner of Income Tax, Versus Dena Gujarat Gramin Bank,

2015 (6) TMI 973 - ITAT AHMEDABAD

Disallowance on account of expenses being premium paid on SLR (Statutory Liquidity Ratio) investments - CIT(A) deleted the disallowance - Held that:- Amortization of premium is allowable in accounting practice. As per RBIís guidelines, amortization o .....

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ar circumstances in case of premium of debentures, which was also held as investments in different judgments including that of Honíble Supreme Court in case of Madras Industrial Investment Corp. Ltd. Vs. CIT(A) (1997 (4) TMI 5 - SUPREME Court) relied .....

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ned to interfere in the finding of CIT(A) who has deleted the disallowance made on account of expenses being premium paid on SLR (Statutory Liquidity Ratio) investments. - Decided in favour of assessee. - ITA. No. 2059/Ahd/2011 - Dated:- 5-6-2015 - S .....

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st the order ofCIT(A), Gandhinagar, dated 27.05.2011 for the assessment year 2008-09 on following ground: 1. The learned CIT(Appeals) has erred in law and on facts in deleting the disallowance of ₹ 1,30,19,855/- made on account of expenses bein .....

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tter was carried before the First Appellate Authority, wherein various contentions were raised on behalf of assessee and having considered the same CIT(A) has allowed the same, which has been opposed before us on behalf of Revenue. Learned Department .....

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remium is allowable in accounting practice. As per RBI s guidelines, amortization of premium in case of assets treated as HTM (Held to Maturity) (Investments) is to be amortized divided equally over the period which is remaining for their maturity. S .....

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