https://www.taxtmi.com/highlights?id=105323 Available for Sale bank securities valued at cost or market value, whichever is lower, under applicable RBI guidelines and ICDS VIII B permit recognition of mark-to-market loss. The sector-specific accounting rules for banks prevail over a general clarification on mark-to-market losses, making the claimed loss deductible. Deduction for a provision for bad and doubtful debts is not confined to advances already classified as bad or doubtful; the statutory computation does not distinguish between standard assets and impaired assets. Both disallowances were deleted and the claims were allowed. en-us Fri, 23 Oct 2026 11:52:28 +0530 Fri, 23 Oct 2026 11:52:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105323 Available for Sale bank securities valued at cost or market value, whichever is lower, under applicable RBI guidelines and ICDS VIII B permit recognition of mark-to-market loss. The sector-specific accounting rules for banks prevail over a general clarification on mark-to-market losses, making the claimed loss deductible. Deduction for a provision for bad and doubtful debts is not confined to advances already classified as bad or doubtful; the statutory computation does not distinguish between standard assets and impaired assets. Both disallowances were deleted and the claims were allowed. Highlights Income Tax Fri, 23 Oct 2026 11:52:28 +0530 https://www.taxtmi.com/highlights?id=105323