https://www.taxtmi.com/caselaws?id=66727 The confiscated value of paddy for non-delivery under the levy system was treated as a business loss because it arose directly from the assessee's trading operations and had an integral connection with the conduct of that business. The loss was therefore incidental to the business rather than a separate or personal outgoing, and it was allowed as an admissible deduction in computing business profits under section 10(1) of the Indian Income-tax Act, 1922. en-us Fri, 22 Jul 1977 00:00:00 +0530 Sat, 05 Mar 2011 18:44:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66727 The confiscated value of paddy for non-delivery under the levy system was treated as a business loss because it arose directly from the assessee's trading operations and had an integral connection with the conduct of that business. The loss was therefore incidental to the business rather than a separate or personal outgoing, and it was allowed as an admissible deduction in computing business profits under section 10(1) of the Indian Income-tax Act, 1922. Case-Laws Income Tax Fri, 22 Jul 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66727