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2012 (10) TMI 1042
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....G. Sathe ORDER Rajendra (Accountant Member) The appellant had filed this appeal against the order dt.29-07-2011 of the CIT(A)-1, Thane on the following Grounds of Appeal: "1.On the facts and in the circumstances of the case, the Id. CIT(A)-1, Thane erred in appreciating the fact that the loss at the time of reclassification of HTM securities is a capital loss and not a revenue lo....
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.... determining total income of the assessee at Rs. 8.62 Crores. 2.1 During the assessment proceedings, Assessing Officer (AO) found that assessee had debited an amount of Rs. 2.92 Crores under the head 'Amortisation of Premium and Depreciation on Govt. Securities and had shifted the same to HTM (Held To Maturity). Out of Rs. 2.92 Crores, Rs. 2.22 Crores was on account of loss incurred due to shif....
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....tionate rights of premium paid on securities held on maturity, he held that the claim of write off was within the four corners of law, that assessee was entitled to write off the same. He also deleted the addition amounting to Rs. 7.63 Lakhs made by the AO. 3. Before us, Departmental Representative (DR) relied upon the orders of the AO. Authorised Representative (AR) relied upon the order of th....