https://www.taxtmi.com/caselaws?id=32541 Valuation of banking investments for tax purposes can follow Reserve Bank of India guidelines where the Tribunal finds the RBI framework applicable and the supporting conclusions are factual. The court accepted that section 45Q gives overriding effect to Chapter III-B of the RBI Act in relation to this issue, so the Revenue's reliance on the general income-computation rule did not justify interference. It also held that the Tribunal had sufficiently dealt with the grounds of appeal and was not required to pronounce separately on each ground where the order showed adequate consideration. No substantial question of law arose, and the Revenue's challenge failed. en-us Fri, 23 Mar 2007 00:00:00 +0530 Sat, 17 Sep 2011 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32541 Valuation of banking investments for tax purposes can follow Reserve Bank of India guidelines where the Tribunal finds the RBI framework applicable and the supporting conclusions are factual. The court accepted that section 45Q gives overriding effect to Chapter III-B of the RBI Act in relation to this issue, so the Revenue's reliance on the general income-computation rule did not justify interference. It also held that the Tribunal had sufficiently dealt with the grounds of appeal and was not required to pronounce separately on each ground where the order showed adequate consideration. No substantial question of law arose, and the Revenue's challenge failed. Case-Laws Income Tax Fri, 23 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32541