https://www.taxtmi.com/caselaws?id=176116 The Tribunal upheld the Cooperative Bank's claim for expenses on the amortization of premium on investments, considering the securities under HTM category as revenue in nature. The decision aligned with RBI guidelines and CBDT Circular No.17, emphasizing the deductibility of premium amortization as a reasonable expense. Additionally, the Tribunal rejected the Revenue's appeal, supporting the Cooperative Bank's position and highlighting the need for cooperative banks to be assessed similarly to commercial banks under section 80P(4). en-us Thu, 08 Aug 2013 00:00:00 +0530 Wed, 24 May 2017 14:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176116 The Tribunal upheld the Cooperative Bank's claim for expenses on the amortization of premium on investments, considering the securities under HTM category as revenue in nature. The decision aligned with RBI guidelines and CBDT Circular No.17, emphasizing the deductibility of premium amortization as a reasonable expense. Additionally, the Tribunal rejected the Revenue's appeal, supporting the Cooperative Bank's position and highlighting the need for cooperative banks to be assessed similarly to commercial banks under section 80P(4). Case-Laws Income Tax Thu, 08 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176116