https://www.taxtmi.com/caselaws?id=180517 Bank-held government securities are treated as stock-in-trade, so classification under the Held to Maturity category does not by itself convert them into pure investments. The legal character of the asset depends on the real nature of the banking business, not the book nomenclature adopted for accounting purposes. On that basis, loss arising from valuation or sale of such securities is revenue in nature and is allowable as a deduction. Accordingly, the claim for deduction for diminution in value of government securities was held allowable and the disallowance was unsustainable. en-us Fri, 29 Nov 2013 00:00:00 +0530 Mon, 26 Sep 2016 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180517 Bank-held government securities are treated as stock-in-trade, so classification under the Held to Maturity category does not by itself convert them into pure investments. The legal character of the asset depends on the real nature of the banking business, not the book nomenclature adopted for accounting purposes. On that basis, loss arising from valuation or sale of such securities is revenue in nature and is allowable as a deduction. Accordingly, the claim for deduction for diminution in value of government securities was held allowable and the disallowance was unsustainable. Case-Laws Income Tax Fri, 29 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180517