https://www.taxtmi.com/caselaws?id=766969 The ITAT PUNE upheld CIT(A)'s decision allowing the assessee's claim for depreciation provision against notional losses. The Tribunal relied on consistent favorable precedents from previous assessment years 2007-08 through 2010-11 involving the same issue. Revenue failed to provide contradictory evidence against CIT(A)'s findings. Additionally, the Tribunal allowed amortization of premium on government securities held to maturity and depreciation on securities transferred from available-for-sale to held-to-maturity category, finding the assessee's contentions justified. en-us Tue, 04 Mar 2025 00:00:00 +0530 Fri, 07 Mar 2025 08:41:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766969 The ITAT PUNE upheld CIT(A)'s decision allowing the assessee's claim for depreciation provision against notional losses. The Tribunal relied on consistent favorable precedents from previous assessment years 2007-08 through 2010-11 involving the same issue. Revenue failed to provide contradictory evidence against CIT(A)'s findings. Additionally, the Tribunal allowed amortization of premium on government securities held to maturity and depreciation on securities transferred from available-for-sale to held-to-maturity category, finding the assessee's contentions justified. Case-Laws Income Tax Tue, 04 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766969