https://www.taxtmi.com/caselaws?id=55338 The appeal by the assessee, a Scheduled Bank, was partly allowed. The disallowance of loss arising from security transactions with Punjab National Bank was upheld due to pending appeal before the Supreme Court, while the loss from transactions with State Bank of Patiala was disallowed as the settlement occurred after the financial year. The transactions were deemed non-speculative and legal, allowing for depreciation on securities and deleting the disallowance of interest. The issue of interest under section 234B was remanded for further consideration. en-us Fri, 31 Dec 2004 00:00:00 +0530 Thu, 25 Nov 2010 16:32:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55338 The appeal by the assessee, a Scheduled Bank, was partly allowed. The disallowance of loss arising from security transactions with Punjab National Bank was upheld due to pending appeal before the Supreme Court, while the loss from transactions with State Bank of Patiala was disallowed as the settlement occurred after the financial year. The transactions were deemed non-speculative and legal, allowing for depreciation on securities and deleting the disallowance of interest. The issue of interest under section 234B was remanded for further consideration. Case-Laws Income Tax Fri, 31 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55338