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of <h1>High Court partially allows petition on seized gold deduction as business loss under Income-tax Act</h1> The High Court partially allowed a petition to refer questions on deduction of seized gold as a business loss under section 69A of the Income-tax Act. The ... Unexplained Money The High Court of Punjab and Haryana partially allowed a petition to refer a question regarding deduction of seized gold as a business loss under section 69A of the Income-tax Act to the court for its opinion. The court found the first question to be a question of fact and declined to give any direction on it. The Tribunal's decision on the second question was deemed a question of law, leading to the direction to refer it to the court for opinion.
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