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Case Law Details

Case Name : M/s Punjab & Sind Bank Vs. Deputy Commissioner of Income Tax (ITAT Delhi)
Related Assessment Year : 1987- 88
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Short fall in the market value of securities.- Rs. 4,29,64,559.00- we are of the view that the claim of the assessee could not be rejected merely on the ground that in the books of account the securities were being valued as per the notifications issued by the R.B.I. However, it is not clear from the orders of the lower authorities whether such securities were held by the assessee by way of stock in trade or by way of investment.

It is also not clear as to what was the market value on the last date of the accounting year. In o

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