https://www.taxtmi.com/caselaws?id=204767 The High Court reinstated the Commissioner's decision to allow the deduction claim of Rs. 4,57,777 for materials lost due to theft, overturning the Tribunal's decision that relied on past incidents to disbelieve the theft allegation. The Court emphasized the lack of evidence contradicting the theft and criticized the Tribunal's reliance on conjecture. It highlighted the Assessing Officer's failure to provide substantial evidence to reject the claim, ruling in favor of the assessee against the Revenue. en-us Fri, 13 May 2011 00:00:00 +0530 Sat, 15 Dec 2012 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204767 The High Court reinstated the Commissioner's decision to allow the deduction claim of Rs. 4,57,777 for materials lost due to theft, overturning the Tribunal's decision that relied on past incidents to disbelieve the theft allegation. The Court emphasized the lack of evidence contradicting the theft and criticized the Tribunal's reliance on conjecture. It highlighted the Assessing Officer's failure to provide substantial evidence to reject the claim, ruling in favor of the assessee against the Revenue. Case-Laws Income Tax Fri, 13 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204767