https://www.taxtmi.com/caselaws?id=177994 A bank that consistently treated its investment portfolio as stock-in-trade under its regular accounting method was entitled to value the securities at cost or market value, whichever was lower. The ruling applied the real income principle and accepted that such valuation could not be rejected merely because the investments were also reflected in accordance with banking guidelines. The contention that the entire portfolio was capital in nature was not accepted, and the disallowance and enhancement relating to depreciation or loss on the portfolio were deleted. en-us Wed, 03 Dec 2008 00:00:00 +0530 Tue, 05 Dec 2023 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177994 A bank that consistently treated its investment portfolio as stock-in-trade under its regular accounting method was entitled to value the securities at cost or market value, whichever was lower. The ruling applied the real income principle and accepted that such valuation could not be rejected merely because the investments were also reflected in accordance with banking guidelines. The contention that the entire portfolio was capital in nature was not accepted, and the disallowance and enhancement relating to depreciation or loss on the portfolio were deleted. Case-Laws Income Tax Wed, 03 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177994