PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
ITAT held that shares held by a banking concern under the Held-to-Maturity (HTM) category constitute capital assets forming part of the business of banking and are not stock-in-trade; consequential gains on sale qualify as long-term capital gains (LTCG). Applying RBI classification, Available-for-Sale (AFS) and Held-for-Trading (HFT) securities are treated as stock-in-trade, but HTM securities are distinct and must be reflected as investments in the balance sheet. The Tribunal agreed with the appellate authority, accepted the assessee's classification of the shares as investments in schedule to the balance sheet, and dismissed the Revenue's appeal.
ITAT held that shares held by a banking concern under the Held-to-Maturity (HTM) category constitute capital assets forming part of the business of banking and are not stock-in-trade; consequential gains on sale qualify as long-term capital gains (LTCG). Applying RBI classification, Available-for-Sale (AFS) and Held-for-Trading (HFT) securities are treated as stock-in-trade, but HTM securities are distinct and must be reflected as investments in the balance sheet. The Tribunal agreed with the appellate authority, accepted the assessee's classification of the shares as investments in schedule to the balance sheet, and dismissed the Revenue's appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
