Allowability of premium paid in excess of face value of investments under HTM category

Premium paid in excess of the face value of the security held under ‘Held to Maturity’ (‘HTM’) category which has been amortised over the period remaining till maturity is allowable – rules Mumbai Tax Tribunal

Facts

• The Assessee had a unit at Bhopal which was not functioning since the assessment year 1997-98.

• The Bank of Rajasthan Ltd (‘the assessee�

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