Shifting loss incurred at the time of shifting of securities ...

Case Laws Income Tax

January 31, 2020

Shifting loss incurred at the time of shifting of securities from AFS to HTM category - The said shifting loss is squarely allowable as deduction. But the assessee had provided the revised workings of the said loss before the ld. CIT(A) which resulted in an enhancement - Additions confirmed.

View Source

← Previous Next →

Shifting loss incurred at the time of shifting of securities ...

Case Laws Income Tax

January 31, 2020

You may also like:

Banks are required to maintain a Statutory Liquidity Ratio (SLR) by purchasing government securities. RBI guidelines categorize securities as Held-to-Maturity (HTM),...

Depreciation relating to Held to Maturity (HTM) investments - When there is no distinction between the three categories of securities viz.,HTM, AFS and HFT. The assessee...

The Tribunal has been consistently holding that Government Securities held under HTM category are part of stock-int-rade and allowed the amortization of premium on such...

Disallowance of loss on sale of Government Securities - permissible business loss or not? - The Tribunal disagreed with the AO's presumption that the securities were not...

Disallowance of assessee's claim of exceptional losses on account of certain trades - Actually if there is any loss incurred on the said transaction, the same shall have...

Interest expenses claim against the interest income received - It is the nature of the business and all the expenditure incurred in earning the income is allowable...

Depreciation on HFT or AFS - investments Held for Trading (HFT) and Available for Sale (AFS) - Amortization of premium over the period remaining to maturity. - AO shall...

Losses incurred by the assessee from F & O operations - Speculation loss or business loss - Loss incurred on account of derivatives would be deemed business loss under...

Claim of deduction u/s 37(1) - Security deposit written off - security wa paid for obtaining shops on lease - the assessee be allowed to claim the loss incurred in...

Disallowance of setting off of the carried forward loss - return filed beyond the due date specified under subsection (1) of section 139 - It was argued that the delay...

Loss incurred by the assessee on F & O (Future and Options) derivative transactions - “speculative loss” or not - disallowing the set off of the said loss against other...

Addition of profit shifted out and the loss shifted in by way of Client code modification - Profit or the loss during the time when code were modified - transactions in...

The notification introduces amendments to Para 10.08 of Chapter 10 of FTP 2023, outlining two significant provisions: (1) General Authorization for Export of...

Forex loss - allowable business loss u/s 37(1) or not? - The assessee company has entered into transactions of buying and selling of forex and incurred a loss on the...

Loss of precious metal - Notional loss or actual loss - Abnormal loss incurred by the assessee can be treated as revenue expenditure to be allowable during this year or...

Quick Updates: