Depreciation on Investments as Stock-in-Trade Allowed Despite Balance Sheet Classification per RBI Regulations.

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....Depreciation on securities - if the assessee has consistently treating the value of investment for more than two decades as investment as stock-in-trade and claim depreciation, it is not open to the authorities to disallow the said depreciation on the ground that in the balance-sheet it is shown as investment in terms of the RBI Regulations - HC....