https://www.taxtmi.com/caselaws?id=262355 The High Court upheld the Tribunal's decision in favor of the assessee, a scheduled Bank, regarding the disallowance of deduction claimed under Sec.36(1)(vii) for assessment years 2000-2001 to 2004-2005. The Court ruled that the RBI guidelines for valuing unsecured shares were applicable, supporting the allowance of the notional loss claimed on revaluation of securities as a deduction. The appeals filed by the Revenue were dismissed, affirming the legality of the Tribunal's decision and emphasizing adherence to established legal principles. en-us Fri, 03 Jul 2015 00:00:00 +0530 Sat, 08 Aug 2015 06:11:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262355 The High Court upheld the Tribunal's decision in favor of the assessee, a scheduled Bank, regarding the disallowance of deduction claimed under Sec.36(1)(vii) for assessment years 2000-2001 to 2004-2005. The Court ruled that the RBI guidelines for valuing unsecured shares were applicable, supporting the allowance of the notional loss claimed on revaluation of securities as a deduction. The appeals filed by the Revenue were dismissed, affirming the legality of the Tribunal's decision and emphasizing adherence to established legal principles. Case-Laws Income Tax Fri, 03 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262355