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<h1>High Court rules against deduction claim for hutment loss under Income-tax Act</h1> The High Court of Bombay upheld the disallowance of a deduction claimed by the assessee for the loss on demolition and sale of hutments and a labor camp ... Accounting Year, Assessment Year, Income Tax Act The High Court of Bombay ruled that the assessee was not entitled to a deduction of Rs. 17,640 for the loss on demolition and sale of hutments and a labor camp. The deduction was disallowed under section 32(1)(iii) of the Income-tax Act, 1961. The court upheld the decision of the income-tax authorities and dismissed the appeal.