https://www.taxtmi.com/caselaws?id=388394 Amortisation of premium on government securities classified as held to maturity is allowable as a business deduction where RBI classification requires such securities to be carried at acquisition cost and the premium is spread over the remaining term to maturity; the claim is supported by CBDT's 2008 instruction and judicial precedent, so the disallowance fails. An addition made solely on AIR information, without disclosure of the underlying transaction details or supporting material, lacks evidentiary basis and cannot sustain an allegation of unexplained investment; the addition therefore fails. en-us Thu, 03 Oct 2019 00:00:00 +0530 Thu, 14 Nov 2019 17:59:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388394 Amortisation of premium on government securities classified as held to maturity is allowable as a business deduction where RBI classification requires such securities to be carried at acquisition cost and the premium is spread over the remaining term to maturity; the claim is supported by CBDT's 2008 instruction and judicial precedent, so the disallowance fails. An addition made solely on AIR information, without disclosure of the underlying transaction details or supporting material, lacks evidentiary basis and cannot sustain an allegation of unexplained investment; the addition therefore fails. Case-Laws Income Tax Thu, 03 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388394