https://www.taxtmi.com/caselaws?id=260626 The High Court of Bombay held that securities held by a Co-operative Bank until maturity should be treated as stock in trade, not mere investments. The Assessing Officer's disallowance of depreciation on government securities as diminution in value was overturned, following precedents from the Supreme Court and a similar case involving another bank. The appeal challenging this decision was dismissed as it did not raise a substantial question of law, affirming that such securities are considered stock in trade, affecting their tax treatment. en-us Wed, 07 Jan 2015 00:00:00 +0530 Fri, 19 Jun 2015 06:22:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260626 The High Court of Bombay held that securities held by a Co-operative Bank until maturity should be treated as stock in trade, not mere investments. The Assessing Officer's disallowance of depreciation on government securities as diminution in value was overturned, following precedents from the Supreme Court and a similar case involving another bank. The appeal challenging this decision was dismissed as it did not raise a substantial question of law, affirming that such securities are considered stock in trade, affecting their tax treatment. Case-Laws Income Tax Wed, 07 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260626