https://www.taxtmi.com/caselaws?id=9671 The High Court ruled in favor of the assessee, holding that the Government securities were to be classified as stock-in-trade rather than investments or capital assets. The court emphasized the importance of consistency in the treatment of securities and decision-making by tribunals, referencing previous judgments and the assessee's historical practices. The court allowed for the fall in market value to be claimed as a deduction, supporting the assessee's position based on established principles in relevant Supreme Court decisions. en-us Tue, 07 Feb 2006 00:00:00 +0530 Thu, 17 Mar 2022 16:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9671 The High Court ruled in favor of the assessee, holding that the Government securities were to be classified as stock-in-trade rather than investments or capital assets. The court emphasized the importance of consistency in the treatment of securities and decision-making by tribunals, referencing previous judgments and the assessee's historical practices. The court allowed for the fall in market value to be claimed as a deduction, supporting the assessee's position based on established principles in relevant Supreme Court decisions. Case-Laws Income Tax Tue, 07 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9671