UNITED COMMERCIAL BANK versus COMMISSIONER OF INCOME-TAX
Indian Income Tax Act 1961 Assessment of Stock General Principles Banking Regulation Act Bank's National Book Bank Accounting as well as Tax on Bank Account Balance Sheet for Tax Purposes Value both in Stock Trading (Investment) Act And whatever value was lower for income tax purposes at cost or market value, the investment value was assessed continuously for thirty years and was accepted through the method of revenue and was accepted by the Indian Income Tax Act. , 1961, Section 145 could not be repealed, the Indian Banking Regulation Act, 1949 [CIT v. UCOB H (1993) reversed 200 ITR 68]
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