https://www.taxtmi.com/caselaws?id=258845 Banking expenditure governed by regulatory norms was treated on the basis of substantive character rather than book entry alone. Amortisation of premium on Held To Maturity securities was accepted as a deductible business claim where supported by RBI guidelines and linked to acquisition cost. A statutory contribution to the Co-operative State Cadre Employment Fund was treated as an ascertained liability, not a contingent or profit appropriation, because it arose under the Maharashtra cooperative framework at a fixed notified rate. The issue on reversal of interest on performing agricultural assets required factual verification against the Agricultural Debt Waiver Scheme and RBI directions, so it was sent back for fresh examination. en-us Fri, 28 Nov 2014 00:00:00 +0530 Mon, 20 Apr 2015 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258845 Banking expenditure governed by regulatory norms was treated on the basis of substantive character rather than book entry alone. Amortisation of premium on Held To Maturity securities was accepted as a deductible business claim where supported by RBI guidelines and linked to acquisition cost. A statutory contribution to the Co-operative State Cadre Employment Fund was treated as an ascertained liability, not a contingent or profit appropriation, because it arose under the Maharashtra cooperative framework at a fixed notified rate. The issue on reversal of interest on performing agricultural assets required factual verification against the Agricultural Debt Waiver Scheme and RBI directions, so it was sent back for fresh examination. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258845