https://www.taxtmi.com/caselaws?id=349323 For a banking entity, securities and bonds classified under the RBI's Available for Sale category retain a business character for tax purposes, so loss on sale is treated as business loss rather than capital loss. Expenditure on installing a statue was held allowable as revenue business expenditure because it had a commercial nexus with banking business, supported visibility and brand promotion, and was not shown to serve any extraneous purpose. Premium paid on Government securities held to maturity was also allowable to be amortised over the remaining maturity period under binding precedent and CBDT guidance. en-us Mon, 04 Sep 2017 00:00:00 +0530 Wed, 11 Oct 2017 22:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349323 For a banking entity, securities and bonds classified under the RBI's Available for Sale category retain a business character for tax purposes, so loss on sale is treated as business loss rather than capital loss. Expenditure on installing a statue was held allowable as revenue business expenditure because it had a commercial nexus with banking business, supported visibility and brand promotion, and was not shown to serve any extraneous purpose. Premium paid on Government securities held to maturity was also allowable to be amortised over the remaining maturity period under binding precedent and CBDT guidance. Case-Laws Income Tax Mon, 04 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349323