https://www.taxtmi.com/caselaws?id=274914 The ITAT Pune upheld the CIT(A)'s decision to allow the deduction claimed by a Co-operative Bank for amortization of premium paid on securities categorized as Held to Maturity (HTM) for the assessment year 2008-09. The ITAT emphasized that the premium paid in excess of face value of investments under HTM category, amortized till maturity, is an allowable revenue expenditure as per RBI guidelines. The decision was supported by previous Tribunal decisions and the Hon'ble Bombay High Court's rulings, highlighting the importance of regulatory compliance and legal precedents in tax matters for Co-operative Banks. en-us Mon, 30 Mar 2015 00:00:00 +0530 Tue, 11 Sep 2018 08:08:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274914 The ITAT Pune upheld the CIT(A)'s decision to allow the deduction claimed by a Co-operative Bank for amortization of premium paid on securities categorized as Held to Maturity (HTM) for the assessment year 2008-09. The ITAT emphasized that the premium paid in excess of face value of investments under HTM category, amortized till maturity, is an allowable revenue expenditure as per RBI guidelines. The decision was supported by previous Tribunal decisions and the Hon'ble Bombay High Court's rulings, highlighting the importance of regulatory compliance and legal precedents in tax matters for Co-operative Banks. Case-Laws Income Tax Mon, 30 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274914