https://www.taxtmi.com/caselaws?id=268991 Government securities held by a co-operative bank as available-for-sale securities, acquired and maintained in the course of banking operations under RBI norms, were treated as part of the bank's trading assets. CBDT circulars and the consistent accounting and regulatory classification supported the view that such securities functioned as stock in trade, making profit or loss on sale incidental to banking business rather than a capital transaction. The loss on sale was therefore deductible as business loss and could not be assessed as long-term capital loss. en-us Wed, 14 Oct 2015 00:00:00 +0530 Sat, 05 Dec 2015 11:07:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268991 Government securities held by a co-operative bank as available-for-sale securities, acquired and maintained in the course of banking operations under RBI norms, were treated as part of the bank's trading assets. CBDT circulars and the consistent accounting and regulatory classification supported the view that such securities functioned as stock in trade, making profit or loss on sale incidental to banking business rather than a capital transaction. The loss on sale was therefore deductible as business loss and could not be assessed as long-term capital loss. Case-Laws Income Tax Wed, 14 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268991