https://www.taxtmi.com/caselaws?id=247879 The ITAT Pune dismissed the revenue's appeal, upholding the CIT(A)'s decisions on both issues. The disallowance of expenditure towards amortization of premium on government securities held till maturity was deemed allowable, following RBI guidelines and CBDT instructions. Additionally, the disallowance of expenses claimed as a contribution to the Education Fund was overturned, as it was mandatory for cooperative banks in Maharashtra and considered a business expenditure under Section 37(1) of the Income Tax Act. The judgment emphasized adherence to regulatory directives in cooperative banking operations. en-us Wed, 30 Apr 2014 00:00:00 +0530 Mon, 26 May 2014 10:54:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247879 The ITAT Pune dismissed the revenue's appeal, upholding the CIT(A)'s decisions on both issues. The disallowance of expenditure towards amortization of premium on government securities held till maturity was deemed allowable, following RBI guidelines and CBDT instructions. Additionally, the disallowance of expenses claimed as a contribution to the Education Fund was overturned, as it was mandatory for cooperative banks in Maharashtra and considered a business expenditure under Section 37(1) of the Income Tax Act. The judgment emphasized adherence to regulatory directives in cooperative banking operations. Case-Laws Income Tax Wed, 30 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247879