Dismissing the appeal of the revenue the Court held that the assessee had got cash only upon sale of the bonds. Till such time the bonds could not be treated as capital asset and not even as stock-in-trade. The assessee had recorded notional loss or profit on revaluation of the earlier years and had followed such procedure in the subject assessment year 1996-97 also. There was consistency in the pattern followed by the assessee and considering the nature of business it was doing the bonds were rightly treated as current assets. The findings of facts recorded by the Tribunal were proper and correct. The option of treating the receivables converted as bonds realisable at a future point of time was tenable and running out of cash reserves the decision to treat the bonds also as receivables had been taken. On the facts, the treatment of an entry in a particular method needed to be appreciated. (AY.1996-97)