2019 (11) TMI 317 - SCH - Income Tax

Depreciation on valuation of investment portfolio - Tribunal allowable it by treating the investments held by the assessee bank as stock-in-trade once the RBI Master Circular read with CBDT Circular No.665 came into force - whether Tribunal's order can be said as perverse in nature since the Tribunal has followed the decisions which have not reached finality? - HC decided the issue in favour of assessee - HELD THAT - SLP dismissed.

Summary

The Supreme Court of India dismissed the special leave petitions after condoning the delay. No representation was made for the respondent. (2019 (11) TMI 317 - SC)