https://www.taxtmi.com/caselaws?id=240405 Held-to-maturity securities in banking business were treated as stock-in-trade, so depreciation or fall in value was allowed. Broken period interest on purchase of securities was also held deductible as revenue expenditure. For the relevant year, disallowance of expenditure relating to exempt income had to be computed under Rule 8D, and the restricted disallowance was sustained. The claim for deduction for provision for bad and doubtful debts under section 36(1)(viia) was restored to the Assessing Officer for fresh consideration in light of earlier Supreme Court guidance and after hearing the assessee. en-us Fri, 29 Nov 2013 00:00:00 +0530 Tue, 03 Dec 2013 06:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240405 Held-to-maturity securities in banking business were treated as stock-in-trade, so depreciation or fall in value was allowed. Broken period interest on purchase of securities was also held deductible as revenue expenditure. For the relevant year, disallowance of expenditure relating to exempt income had to be computed under Rule 8D, and the restricted disallowance was sustained. The claim for deduction for provision for bad and doubtful debts under section 36(1)(viia) was restored to the Assessing Officer for fresh consideration in light of earlier Supreme Court guidance and after hearing the assessee. Case-Laws Income Tax Fri, 29 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240405