The Addl. CIT, Circle 3(2) Hyderabad Versus State Bank of Hyderabad, Hyderabad - Income Tax - ITAT HYDERABAD - Tri - Depreciation on securities held to maturity - Held that - Following assessee s own case for the A.Y. 2003-04 - Main business of the banking company being to accept deposits to advance loans to appropriate persons, money constitutes its stock in trade - The amount required to kept in India as per section 24 of the Banking Regulation Act, 1949 in the form of cash, gold and unencumbe................................... Income Tax - Case Laws
↧