https://www.taxtmi.com/caselaws?id=177713 The ITAT dismissed the Revenue's appeal and upheld the CIT(A)'s decision to allow the amortization claim by a Cooperative Bank for investments held till maturity, citing RBI guidelines and previous judgments. The judgment clarified the classification of cooperative banks under section 80P(4) as per the Finance Act, 2006, emphasizing the application of ordinary commercial principles. It also supported the accounting treatment of cooperative banks' investment portfolios based on RBI guidelines, endorsing the amortization claim for investments classified under HTM category. en-us Mon, 29 Apr 2013 00:00:00 +0530 Thu, 11 May 2017 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177713 The ITAT dismissed the Revenue's appeal and upheld the CIT(A)'s decision to allow the amortization claim by a Cooperative Bank for investments held till maturity, citing RBI guidelines and previous judgments. The judgment clarified the classification of cooperative banks under section 80P(4) as per the Finance Act, 2006, emphasizing the application of ordinary commercial principles. It also supported the accounting treatment of cooperative banks' investment portfolios based on RBI guidelines, endorsing the amortization claim for investments classified under HTM category. Case-Laws Income Tax Mon, 29 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177713