https://www.taxtmi.com/caselaws?id=282514 Depreciation on government securities held as stock-in-trade must be verified script-wise against RBI valuation norms and allowed only after the actual diminution or appreciation is established. Welfare expenditure incurred to maintain and promote relations with members of a co-operative bank is treated as business expenditure and is deductible. Contributions and payments made under the Gujarat Co-operative Societies Act to the Urban Bank Credit Equalisation Fund and the education fund are statutory outgoings connected with banking operations and are allowable as business deductions. The stated principle is that mandatory payments under co-operative law, when incurred in the course of business, qualify for deduction, while securities valuation claims require factual verification before allowance. en-us Fri, 23 Aug 2013 00:00:00 +0530 Sat, 10 Aug 2019 13:14:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282514 Depreciation on government securities held as stock-in-trade must be verified script-wise against RBI valuation norms and allowed only after the actual diminution or appreciation is established. Welfare expenditure incurred to maintain and promote relations with members of a co-operative bank is treated as business expenditure and is deductible. Contributions and payments made under the Gujarat Co-operative Societies Act to the Urban Bank Credit Equalisation Fund and the education fund are statutory outgoings connected with banking operations and are allowable as business deductions. The stated principle is that mandatory payments under co-operative law, when incurred in the course of business, qualify for deduction, while securities valuation claims require factual verification before allowance. Case-Laws Income Tax Fri, 23 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282514