https://www.taxtmi.com/circulars?id=5016 Securities held by banks are to be regarded as stock in trade, so valuation losses debited in the books are treated like other stock in trade losses for tax purposes. Interest payments and receipts on securities, including broken period interest, are revenue in nature; only net interest on securities is taxable as business income. en-us Wed, 24 Apr 1991 00:00:00 +0530 Fri, 08 Aug 2008 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5016 Securities held by banks are to be regarded as stock in trade, so valuation losses debited in the books are treated like other stock in trade losses for tax purposes. Interest payments and receipts on securities, including broken period interest, are revenue in nature; only net interest on securities is taxable as business income. Circulars Income Tax Wed, 24 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5016