https://www.taxtmi.com/caselaws?id=213975 A co-operative bank's consistent treatment of Government securities as investments in its books and tax return was decisive: the securities were valued at cost, and the question whether they were stock-in-trade or capital assets was treated as one of fact. On those facts, the securities were held to be investment assets rather than trading stock, so the actual loss on sale was not allowable as a business loss and was correctly characterised as a capital loss. The Revenue therefore succeeded, and the disallowance of the claimed business loss was restored. en-us Fri, 11 May 2012 00:00:00 +0530 Wed, 13 Jun 2012 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213975 A co-operative bank's consistent treatment of Government securities as investments in its books and tax return was decisive: the securities were valued at cost, and the question whether they were stock-in-trade or capital assets was treated as one of fact. On those facts, the securities were held to be investment assets rather than trading stock, so the actual loss on sale was not allowable as a business loss and was correctly characterised as a capital loss. The Revenue therefore succeeded, and the disallowance of the claimed business loss was restored. Case-Laws Income Tax Fri, 11 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213975