Disallowance of loss on revaluation of bonds and sale of RBI ...

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

July 29, 2021

Case Laws Income Tax HC

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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Disallowance of loss on revaluation of bonds and sale of RBI ...

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

July 29, 2021

Case Laws Income Tax HC

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