TMI BlogHC allowed the petition. Petitioner was entitled to deduction for broken period interest on purchase of...HC allowed the petition. Petitioner was entitled to deduction for broken period interest on purchase of HTM securities. The issue was no longer res integra in view of SC's decision in Bank of Rajasthan case. There was no basis for initiating reassessment proceedings against petitioner which were contrary to settled legal position. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|