https://www.taxtmi.com/caselaws?id=432544 The High Court upheld the Tribunal's decision to reject the claim of unrealized gains on revaluation of forward contracts, emphasizing the accrual basis of bank accounts for revenue recognition. Regarding the depreciation in value of investment in HTM Securities, the Court's decision was not disclosed. The Court deliberated on disallowances under sections 36(1)(viia) and 14A of the Act, questioning the correctness of the Tribunal's actions in setting aside these disallowances. Additionally, the Court reviewed disallowances on AFS and HFT category investments, where the Tribunal overturned assessing authority's decisions, which were pending finality. en-us Mon, 05 Dec 2022 00:00:00 +0530 Fri, 29 May 2026 10:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432544 The High Court upheld the Tribunal's decision to reject the claim of unrealized gains on revaluation of forward contracts, emphasizing the accrual basis of bank accounts for revenue recognition. Regarding the depreciation in value of investment in HTM Securities, the Court's decision was not disclosed. The Court deliberated on disallowances under sections 36(1)(viia) and 14A of the Act, questioning the correctness of the Tribunal's actions in setting aside these disallowances. Additionally, the Court reviewed disallowances on AFS and HFT category investments, where the Tribunal overturned assessing authority's decisions, which were pending finality. Case-Laws Income Tax Mon, 05 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432544