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TMI Blog2019 (1) TMI 409X X X X Extracts X X X X X X X X Extracts X X X X ..... hasing securities also treated as trading assets of the Bank - the value to be taken when the securities appreciate in their market value Held that:- The issue has been considered by this Court in CIT v. Nedungadi Bank Ltd. [2002 (11) TMI 29 - KERALA HIGH COURT] and CIT v. Lord Krishna Bank Ltd. [2010 (10) TMI 860 - KERALA HIGH COURT] with respect to the valuation of securities when there is a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pted. The question of law is answered in favour of the assessee-Bank - I. T. A. No. 550 of 2009 - - - Dated:- 17-12-2018 - MR K. VINOD CHANDRAN AND MR ASHOK MENON, JJ. For The Appellant : ADV. SRI. JOSE JOSEPH, SC FOR INCOME TAX For The Respondent : ADV. SRI. P. BALAKRISHNAN (E) JUDGMENT Vinod Chandran, J . The issue arising in both these appeals are wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de by the Reserve Bank of India. RBI had directed the security to be valued at market price or cost price, whichever is lower. The stipulation was brought in force, to ensure that the Banks do not claim escalated book profits. Though in the present case a contrary situation has arisen, where there is an appreciation of the value of the security, the dictum squarely applies. Even when there is an a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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