https://www.taxtmi.com/caselaws?id=189970 The Tribunal upheld the decision of the CIT(A) to disallow the appellant's claim of Rs. 45 lacs for diminution in the value of securities for the Assessment Year 2008-09. The appellant's argument that the diminution was allowable as a deduction was rejected, as it would result in a double benefit due to earlier claims under section 80P of the Act. The appeal was dismissed, but the appellant was directed to allow the claim for diminution in the value of securities for the relevant financial year. en-us Wed, 18 May 2016 00:00:00 +0530 Sat, 28 Jan 2017 07:05:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189970 The Tribunal upheld the decision of the CIT(A) to disallow the appellant's claim of Rs. 45 lacs for diminution in the value of securities for the Assessment Year 2008-09. The appellant's argument that the diminution was allowable as a deduction was rejected, as it would result in a double benefit due to earlier claims under section 80P of the Act. The appeal was dismissed, but the appellant was directed to allow the claim for diminution in the value of securities for the relevant financial year. Case-Laws Income Tax Wed, 18 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189970