https://www.taxtmi.com/caselaws?id=356613 The case involved disputes over the valuation of Held to Maturity (HTM) securities and the applicability of Section 115JB of the Income Tax Act to a Banking Company for the Assessment Year 2005-06. The Tribunal allowed the change in valuation method for HTM securities to lower of cost or market value, provided it was bona fide and consistently followed. It was found that the HTM securities were held as stock-in-trade by the Bank, and the income from sales was taxed as business income. The judgment emphasized the freedom to change valuation methods in good faith and confirmed that RBI guidelines do not dictate tax treatment. en-us Tue, 27 Feb 2018 00:00:00 +0530 Thu, 31 Jan 2019 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356613 The case involved disputes over the valuation of Held to Maturity (HTM) securities and the applicability of Section 115JB of the Income Tax Act to a Banking Company for the Assessment Year 2005-06. The Tribunal allowed the change in valuation method for HTM securities to lower of cost or market value, provided it was bona fide and consistently followed. It was found that the HTM securities were held as stock-in-trade by the Bank, and the income from sales was taxed as business income. The judgment emphasized the freedom to change valuation methods in good faith and confirmed that RBI guidelines do not dictate tax treatment. Case-Laws Income Tax Tue, 27 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356613