https://www.taxtmi.com/caselaws?id=192895 Premium amortisation on a bank's held-to-maturity investments was allowable as a deduction because securities held by banks are treated as stock-in-trade for income-tax purposes. The RBI classification into held-to-maturity, available for sale and held for trading did not alter the true character of the investments, and the nomenclature of the category was not decisive. Where RBI guidelines required the premium to be written off, the CBDT instruction also recognised such allowance. The disallowance was therefore unsustainable and was deleted in favour of the assessee. en-us Mon, 27 Jan 2014 00:00:00 +0530 Fri, 30 Jun 2017 07:08:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192895 Premium amortisation on a bank's held-to-maturity investments was allowable as a deduction because securities held by banks are treated as stock-in-trade for income-tax purposes. The RBI classification into held-to-maturity, available for sale and held for trading did not alter the true character of the investments, and the nomenclature of the category was not decisive. Where RBI guidelines required the premium to be written off, the CBDT instruction also recognised such allowance. The disallowance was therefore unsustainable and was deleted in favour of the assessee. Case-Laws Income Tax Mon, 27 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192895