Loss of FMV on RBI compliant permanent investment not allowed – HC

HIGH COURT OF KARNATAKA Commissioner of Income-tax V/s. ING Vysya Bank Ltd. IT Appeal No. 2886 OF 2005 June 6, 2012 JUDGMENT 1. This appeal under Section 260-A of the Income-tax Act, 1961 (the Act’ for short) is by the Revenue, questioning the correctness of the order dated 10th March, 2005 passed by the Income Tax Appellate Tribunal, Bangalore Bench in ITA No.382 (Bang)/ 1997. 2. In this appeal, the Revenue has urged many questions of law for our consideration and in terms of the order dated 21-8-2006, while admitting the appeal, the following questions of law had been ...