All authorities below failed to appreciate filed details- Delhi HC remand matter to AO

Punjab National Bank Vs PCIT (Delhi High Court) In a recent ruling Delhi HC remanded the proceedings to the AO to consider the Assessee’s alternate claim for loss arising out of the HTM securities, as loss under the head ‘income from business and profession. It is the case of the assessee that HTM (Held-to-maturities) securities are purchased and held till the same are redeemed by the issuing entity. Assessee declared the gains of Rs. 27,27,44102/- from redemption of such securities as profits chargeable under the head ‘capital gains’. Also assessee claimed loss of Rs. 10,06,04,870/- b...