2019 (4) TMI 1229

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....4) ORAL ORDER (PER : HONOURABLE MS.JUSTICE HARSHA DEVANI) 1. By this appeal under section 260A of the Incometax Act, 1961 (hereinafter referred to as the "Act"), the appellantrevenue has challenged the order dated 21.05.2018 passed by the Income Tax Appellate Tribunal, Ahmedabad Bench 'A'(hereinafter referred to as the"Tribunal") in ITA No.2124/Ahd/2016 by proposing the following question....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he facts were identical to that case. Before the Commissioner (Appeals), the assessee had relied upon the decision of the Tribunal in case of DCIT v. Surat National Cooperative Bank Ltd. in ITA No.2793/Ahd/2012 for assessment year 2009-10 wherein, it was held that as per CBDT, New Delhi Instruction No.17 of 2008 dated 26.11.2008, investments of banks classified under HTM (Held to Maturity) categor....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... contentions in detail. 6. In the above decision, this court has held thus: "7. The instructions clearly provide for amortisation of premium paid on acquisition of securities when the same are acquired at the rate higher than the face value. Such amortisation would have to be for the remaining period of maturity. This precisely the Tribunal had directed in the impugned order. Though co....