2025 (3) TMI 2262

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ilendra Shrivastava - Ld. Sr. DR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2010-11 arises out of an order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 31-03- 2021 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) of the Act on 18-03-2....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssessee has suffered loss of Rs. 10.85 Lacs on account of fluctuation in the market value of the securities since the investment in securities was made as per norms fixed to carry on the banking business. The securities are classified in 'AFS' category which are to be valued at market price and differential as arising there-from would be allowable as revenue expenditure considering the fact that t....