https://www.taxtmi.com/caselaws?id=466949 The note analyses tax treatment of various banking items and concludes operative effects: broken period interest on securities held as stock in trade is deductible as revenue; amortisation of premium on HTM securities is allowable; interest on contractual perpetual debt instruments treated as borrowings is deductible as business expense; an admitted capital loss was properly allowed; estimated wage-arrears provisions on accrual were acceptable; disallowance under rules for exempt-income-related expenses and additions to book profit is not warranted on these facts; accrued NPA interest not recognised need not be taxed under special accrual rules; year-end provisions without TDS were not wholly disallowable; club fees incurred for business are allowable. en-us Mon, 24 Feb 2025 00:00:00 +0530 Fri, 27 Feb 2026 08:35:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466949 The note analyses tax treatment of various banking items and concludes operative effects: broken period interest on securities held as stock in trade is deductible as revenue; amortisation of premium on HTM securities is allowable; interest on contractual perpetual debt instruments treated as borrowings is deductible as business expense; an admitted capital loss was properly allowed; estimated wage-arrears provisions on accrual were acceptable; disallowance under rules for exempt-income-related expenses and additions to book profit is not warranted on these facts; accrued NPA interest not recognised need not be taxed under special accrual rules; year-end provisions without TDS were not wholly disallowable; club fees incurred for business are allowable. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466949