https://www.taxtmi.com/caselaws?id=800121 Government securities held by banks, including securities retained to maturity, constitute stock-in-trade. Such securities must be valued at cost or market value, whichever is lower, so any diminution on revaluation is allowable. Actual bad-debt write-offs concerning non-rural advances are separately deductible and need not be reduced by a provision for bad and doubtful debts relating to rural advances. The restriction on write-off deductions prevents double deduction only for rural advances, preserving full deductions for non-rural bad debts. en-us Tue, 22 Sep 2026 00:00:00 +0530 Thu, 01 Oct 2026 07:40:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800121 Government securities held by banks, including securities retained to maturity, constitute stock-in-trade. Such securities must be valued at cost or market value, whichever is lower, so any diminution on revaluation is allowable. Actual bad-debt write-offs concerning non-rural advances are separately deductible and need not be reduced by a provision for bad and doubtful debts relating to rural advances. The restriction on write-off deductions prevents double deduction only for rural advances, preserving full deductions for non-rural bad debts. Case-Laws Income Tax Tue, 22 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800121