https://www.taxtmi.com/caselaws?id=763484 Delhi HC ruled in favor of assessee bank on multiple issues. Court held Section 14A disallowance inapplicable to banks following Supreme Court precedent in Maxopp Investments Ltd. Amortization of premium on held-to-maturity securities was allowed as proper accounting practice. Loss from transferring securities between portfolios was permitted, following Oriental Bank of Commerce precedent. Deduction for employee pension fund contributions was upheld as business expenditure. Goodwill treatment from bank amalgamation was sustained based on consistent past treatment and established precedents. Revenue's appeal dismissed with no substantial questions of law arising. en-us Fri, 06 Dec 2024 00:00:00 +0530 Thu, 19 Dec 2024 09:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763484 Delhi HC ruled in favor of assessee bank on multiple issues. Court held Section 14A disallowance inapplicable to banks following Supreme Court precedent in Maxopp Investments Ltd. Amortization of premium on held-to-maturity securities was allowed as proper accounting practice. Loss from transferring securities between portfolios was permitted, following Oriental Bank of Commerce precedent. Deduction for employee pension fund contributions was upheld as business expenditure. Goodwill treatment from bank amalgamation was sustained based on consistent past treatment and established precedents. Revenue's appeal dismissed with no substantial questions of law arising. Case-Laws Income Tax Fri, 06 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763484