https://www.taxtmi.com/caselaws?id=260628 The ITAT Pune Bench allowed the appeal of the assessee, overturning the decision of the CIT(A) regarding the disallowance of expenses under the head amortization of premium paid on government securities. The Tribunal emphasized that securities held by banks are akin to stock-in-trade, not just investments, aligning with legal principles and precedents. By allowing the claim for loss on sale of securities held under HTM category, the Tribunal reinforced the revenue nature of such expenses, highlighting the distinction between investment assets and stock-in-trade assets for banking entities. en-us Thu, 30 May 2013 00:00:00 +0530 Fri, 19 Jun 2015 06:23:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260628 The ITAT Pune Bench allowed the appeal of the assessee, overturning the decision of the CIT(A) regarding the disallowance of expenses under the head amortization of premium paid on government securities. The Tribunal emphasized that securities held by banks are akin to stock-in-trade, not just investments, aligning with legal principles and precedents. By allowing the claim for loss on sale of securities held under HTM category, the Tribunal reinforced the revenue nature of such expenses, highlighting the distinction between investment assets and stock-in-trade assets for banking entities. Case-Laws Income Tax Thu, 30 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260628