TaxTMI 
TaxTMI 
2019 (8) TMI 20
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....URABLE MR.JUSTICE J.B.PARDIWALA) 1.00. This Tax Appeal under section 260(A) of the Income Tax Act, 1961 (for short "the Act") is at the instance of the revenue and is directed against the order passed by the Income Tax Appellate Tribunal, A-Bench, Ahmedabad in ITA No.1934/AHD/2016 for the A.Y. 2011-12 2.00. The revenue has proposed following question of law for consideration of this Court :- ....
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....Bank of India guidelines, it is required to deposit certain amounts in Government securities and to hold the same till maturity in order to maintain Statutory Liquidity Ratio (SLR). In certain cases, the acquisition of such securities is at a value higher than the face value of the security itself. The respondent-assessee claimed such premium so paid in acquiring the securities as a loss amortised....
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....ovember 26, 2008. 5. The learned counsel Shri P.G. Desai for the appellant vehemently contended that the Tribunal committed serious error in overruling the decision of the CIT (Appeals), who had given detailed reasons. He submitted that the investment was in the nature of capital investment in the hands of the assessee as held by the CIT (Appeals). The CBDT Circular dated November 26, 2008 woul....
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...., the investment portfolio of the banks is required to be classified under three categories viz. Held to Maturity (HTM), Held for Trading (HFT) and Available for Sale (AFS). Investments classified under HTM category need not be marked to market and are carried at acquisition cost unless these are more than the face value, in which case the premium should be amortised over the period remaining to m....