Home Highlights February 2016 Year 2016 This

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1. Treatment to loss - set-off of loss - As per guidelines issued by the RBI, every NBFC is required to maintain liquid assets including investment in shares, stocks,...

2. Assessee Bank is entitled to value all the investment at cost prices or market value whichever is lower by treating such investment as stock-in-trade, thus depreciation...

3. Disallowance u/s 14A - Exempted income - proportionate disallowance of interest paid by the banks for investments made in tax free bonds/ securities which yield tax free...

4. Loss on revaluation of security - securities maintained as per RBI Guidelines - only 30% treated as stock in trade - 70% treated as long term asset - HC

5. LTCG or PGBP - derivative by itself cannot be termed as an investment or stock in trade. - dealing with those shares/securities will determine whether an investment is...

6. Treatment to the losses on sale of share as "capital loss" - Assessee has in its books treated the shares as investment and accordingly valued the shares at cost and...

7. investments made by the banking company should be treated as a business asset of the banking company or stock-in-trade - AT

8. Shares converted into stock-in-trade - Valuation adopted for conversion of investments to stock-in-trade, opening stock and closing stock - where an assessee converts...

9. Depreciation on securities - if the assessee has consistently treating the value of investment for more than two decades as investment as stock-in-trade and claim...

10. Disallowance u/s 14A - profits from shares where held as stock in trade and not as investments - The sum and substance of ratio laid down by the Hon’ble Supreme Court...

11. Disallowance u/s 14A r.w.r. 8D - sourcing of investment from borrowed funds or own funds - investment is taken as stock-in-trade - ex-parte order - additions confirmed.

12. Real estate companies can also hold separate port folio of land as stock in trade and as investment port folio; the sale of investment portfolio is always taxed as...

13. Disallowing of loss on shares - method of valuation of shares at cost or market price - Since the assessee has himself treated the same as investment, no trading loss...

14. Deemed Loss - Diminution in the value of investment in two unlisted companies - Loss in the value of investment will arise only when such shares are sold by the...

15. If the assessee has consistently treated the shares investment account as her investment for long-term purposes and has not shifted the stock in investment account to...