Court Rules RBI Bonds as Current Assets, Not Capital; Upholds Tribunal's Findings on Business Asset Classification.

Disallowance of loss on revaluation of bonds and sale of RBI Bonds - capital or current asset - There is consistency in the pattern followed by the assessee and considering the nature of business the assessee has been doing, the bonds are rightly treated as current assets in the facts and circumstances of the case. The finding of fact recorded by the Tribunal is proper and correct - HC .....

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