https://www.taxtmi.com/caselaws?id=61877 The Tribunal allowed a deduction claim for a shortage in stores and raw materials for a company, determining the shortage as an accumulated business loss over several years rather than a capital loss. The Tribunal acknowledged the company's awareness of the shortages since 1980 and allowed a partial deduction of Rs. 10 lakhs for the assessment year 1986-87, rejecting the Assessing Officer and CIT (Appeals)'s arguments. The appeal was partly allowed in favor of the company. en-us Tue, 31 Jan 1995 00:00:00 +0530 Sat, 15 Jan 2011 17:42:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61877 The Tribunal allowed a deduction claim for a shortage in stores and raw materials for a company, determining the shortage as an accumulated business loss over several years rather than a capital loss. The Tribunal acknowledged the company's awareness of the shortages since 1980 and allowed a partial deduction of Rs. 10 lakhs for the assessment year 1986-87, rejecting the Assessing Officer and CIT (Appeals)'s arguments. The appeal was partly allowed in favor of the company. Case-Laws Income Tax Tue, 31 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61877