https://www.taxtmi.com/caselaws?id=375088 The Tribunal allowed the appeals for assessment years 2011-12 and 2012-13, directing the Assessing Officer to determine the exact amount of loss on valuation of securities for both years. The Tribunal emphasized the assessee's entitlement to deductions under the law, permitted the switch to the "cost or market price, whichever is less" valuation method, and cautioned against double deductions resulting from changes in valuation methods. The matters were remitted to the AO for further assessment, ensuring a fair opportunity for the assessee to present their case. en-us Tue, 12 Feb 2019 00:00:00 +0530 Thu, 14 Feb 2019 06:20:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375088 The Tribunal allowed the appeals for assessment years 2011-12 and 2012-13, directing the Assessing Officer to determine the exact amount of loss on valuation of securities for both years. The Tribunal emphasized the assessee's entitlement to deductions under the law, permitted the switch to the "cost or market price, whichever is less" valuation method, and cautioned against double deductions resulting from changes in valuation methods. The matters were remitted to the AO for further assessment, ensuring a fair opportunity for the assessee to present their case. Case-Laws Income Tax Tue, 12 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375088